How to Get out of Debt

Getting and staying out of debt it’s not an easy thing. But you can learn how to stop incurring new debt and, why not, change your life forever. Making the decision to get out of debt is one thing. We can say that it’s a real. First, you have to stop making your debt bigger. This means that you will have to limit yourself to one credit card only. You should also cut up from the list your favorite cards such as gas cards or department store cards. Your credit card should be used only for things that you know you are able to pay off in a short period of time. The main idea is to get your spending fully under control. You can also write a spending list because this can help you later getting out of debt. Certainly, you will meet people that consider this very annoying. Maybe it’s true. But we have a golden rule: don’t spend money you don’t have. We say this because your debt actually means more huge purchases. You can start with knowing what you are spending your money on. Each coin, no matter how small, should be written on a list every month. Have you bought a book, a necklace or a cigarette lighter? Write it.
It’s also useful to categorize your spendings. You can put your spendings in groups like: "Must have", "should have" or "like to have". In "must have" you can include things that are compulsory for a good quality of life such as: clothes, rent, food, medicine."Should have" includes the things you need and enhance your life, but you can live without them for a while like theatre tickets."Like to have" includes things that you don’t need but improve your life such as: dialy coffee with friends or a weekly trip with your family. Making a budget can also help. How much money do you monthly spend on each category? This can help you to be able to see which are the areas that let you to cut back. Or, why not, to see the areas where you can increase your spending. Gathering your bills may also be helpful. Why? Because this is the way to see which are the money that are not really yours. Writing  down all the pertinent facts, including the name of the creditor, your minimum monthly payment or your total balance. It's a good idea to set a priority between the debts to which you are going to divide this extra money. Do you have past debts and the creditors are beginning to be a nightmare for you? Consider these top priorities.

It is also useful for you  to figure out your spendings and what debs you owe. This can help you. After that, the secret is to keep it up. But the best advice is to continue to pay off each debt that is in your priority list. Perhaps your family or friends could help you. Who else can give you love and trust and a hug during bad times like they do? We do hope that you are not the black sheep of the family. They may even accept a late payment. A written agreement is the best if you want to keep the things simple without messing any relationship. If possible, see if you can pick up some extra hours at work. Yes, even there is no fun and you'll miss the time spent with your family and you'll have no free time, it is temporary. When you’ll be out of debt, you will forget about extra hours. Until then, work any additional hours as you can get and save all the extra money you earn. Take on a second job. It doesn't have to be high-paying. You can earn money by delivering pizzas, or you can work in a fast-food restaurant, or you can sort packages at some delivery company can add up to quite a bit when it is all put into your debt ladder. You’re your pillow will miss you and your family and personal life will be almost forgot-temporarily!

But there’s a period in your life when you can sacrifice your free time. Don't forget this is only to get yourself out of debt. Once you are debt free, you will feel very proud of you. Your marriage and your social life can also be a victim. Because after work you may feel without anergy for something else. Working so hard to bring in extra money will be very difficult, but you should remember that this is a good way if you want to be debt free and forget about financial stress. Of course it will be difficult, and will be useful to talk about it with the people you care about. Don't forget that this list is just a few ideas to get you started. Use your own creativity might provide even more opportunities to bring in some extra money. Another great secret is "don’t give up". Why? Because, it’s not easy to get out of debt in a day or to fix the problems in a second. Quick fixes don’t last but you can learn  how to manage your money and in the same time, bring a great peace into your life. This will let you to spend your energy on funnier or better things. Author biography: John Moulin, part of the bridging finance team at Vision Finance, specialist in financial marketing and bridging loans. I love fishing, hiking and water sports.

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