You may think you will never be able to get out of debt with the economy in a shambles and the job market failing. The fact of the matter is, it is possible to get out of debt. It is a step by step process that must be applied with dogged determination. Here are some practical tips that you can apply to your own life so that you will soon be on your way to being debt free.
If you are employed, see if you can get more hours at work. If not, look into finding a second job or seeking out online opportunities for work. Be careful with this, though! Don’t fall for any scams. Don’t ever pay any money to work for someone else. Only work for proven online employers that have good Better Business Bureau ratings.
Prioritize your bills, and be sure to put your household bills first. You must take care of your bare necessities and give yourself a home base first as you work toward getting out of debt. Be sure to keep your rent or house payment paid, your utilities on and food on your table. Negotiate your credit card payments to get them as low as possible, then cut up your credit cards and vow to pay only with cash from now on.
Remember that you are paying to have a place to live, so you should stay there as much as possible. Don’t go out to the movies, borrow a DVD from your local library. Don’t go out to dinner. If you aren’t a good cook, now is the time to learn. Look up simple recipes online and/or check out a good, basic cookbook from your library. Cooking for yourself is healthier and costs a fraction of eating out.
When you shop for groceries, make economical, valuable choices. Buy healthful food in bulk whenever possible. Avoid junk food which adds nothing to your nourishment but may end up costing you a fortune in medical and dental bills. Move your eating habits toward a whole foods diet consisting of lean proteins, whole grains, fresh fruits and vegetables and pure filtered tap water. You will save money and soon be enjoying vibrant health.
Reduce your transportation expenses as much as possible. If you are purchasing a late model car, think about selling it and buying a good second hand car outright. This will eliminate a payment and reduce your insurance expenses. If you have an adequate public transportation system in your town, use it. Bicycling and using your feet are also economical means of transportation and good exercise.
Getting out of debt means paring back, making do, and doing a lot of things for yourself that you may never have known how to do before. This may seem like deprivation at first, but if you are determined and consistent, you will soon find yourself stronger and more independent than ever before. Follow the tips presented here to begin declaring your independence from debt.