When you are trying to get out of debt, you have to do whatever it takes to pay what you owe. It takes determination and goals set on stone for you to be able to reach financial freedom. Unless you decide to change your lifestyle, you will really find it hard to get yourself out of debt. However, it's not impossible to change old ways and develop new habits. To help you, here are some tried and tested debt reduction tips to aid you in your journey towards a debt free life. 1. Set An Amount Equal To Your Spending On Non-Essential Indulgences So you want to buy that latest smartphone everyone's been raving about? Maybe you are tempted to shop for a new dress despite the countless ones you have on your closet? Or maybe you feel you deserve some dinner treat for all your hardwork? It's okay to spend on non-essentials and other luxury items. However, you have a debt to pay. You will never be able to save if you keep giving in to the latest trends and technology. So what can you do? Save an amount equal to the item you want to purchase. If you can't deposit the same amount to your savings, defer buying what you want until such time you have enough. This habit will also help you rule out impulse purchases and give you time to think if you really want the item you want to buy or not. 2. Keep The Receipts Of Your Purchases Not everyone is good at budgeting. Plotting out how much goes under each category is the easy part; following through may be hard for some. If you are the type who learns from experience, then sort through your expenditures by keeping all your receipts. Think long and hard, have you really spend your hard earned cash towards your necessities? If you find that you've purchased unnecessary stuff, make a list of it and make sure to have that list handy should you go shopping. Make sure you are always in check and in control of your finances. 3. Find An Accountability Buddy When you're doing something fun, it usually becomes merrier when you're doing it with someone else. Not that getting out of debt is fun. It isn't. But it's not that you can't make it fun because well, you can! Change your perspective. It can either be a joyride or walking on thorns. One way to do this is to find an accountability buddy that you can be responsible to. If you still have a hard time making things work or if you have a hard time trusting anyone, maybe trusting a professional company can give you the security you need. Debt settlement companies like CuraDebt help people who have debt be more accountable by setting up a special dedicated savings account for you to pay your debt. Not just that, they can help you by negotiating with your creditors to have your debt reduced and paid at the least amount of time possible. Think about it, you'll be out of debt in less time and for good. It's not easy but with a little practice, you can develop life changing habits that will help you get closer to reaching your financial goals in life. Helpful links: http://www.toptenreviews.com/money/debt/best-debt-consolidation-companies/curadebt-review/ http://curadebtreviews.tumblr.com/
0 Comments
Leave a Reply. |
ArchivesCategories |