12 Steps to Immediate Debt
Reduction
By Ruth Barringham
Having too much debt is a terrible thing. Being in debt
lowers your standard of living which is always ironic
considering that we always create debt by buying things that we
thought would raise our standard of living.
So what you need to know is how to get out of debt now, and
the sooner the better.
Most people will tell you to make a plan of how you intend
to get rid of your debt quickly. Well no doubt you already know
you want to pay off your debts, but if you have no idea how to
do this then the advice is worthless.
The following is a list of 12 simple solutions that, if used
immediately, will help you to become debt-free.
1. Cut up your credit cards.
You've probably heard this advice before. But remember that
"credit" is another word for "debt." So cut those cards up now.
No excuses. If you really feel helpless without a plastic card
in your wallet then get a debit card instead.
2. Keep financial records.
Don't wait till your next bank statement comes along and scares
you. Keep your own written records of what you spend every day.
This will help you to keep in control of your spending.
3. Downshift.
The less you buy the faster you can pay off your debts. Also
the les you buy, the less you need to work to earn more to buy
the things in the first place. Look for web sites that help you
spend less such as selfsufficientish.com or cheapskates.com
4. Eat more naturally.
Fresh food is so much cheaper than buying ready-made meals and
other processed foods. It's also more healthy and less
fattening. If you are not sure what to do with your
ingredients, type them into the Google search box with a comma
in between each one and Google will find recipes for you.
5. Don't buy pets.
As delightful as they are, pets can be very expensive. Just
having one dog will costs hundreds every year in food and
thousands in vet's bills for tick treatments, worm treatments,
annual vaccinations, illness, dental care... and the list goes
on and on. And it's also expensive to kennel a dog when you go
on holiday.
6. Use your library.
Books are great. You can learn a lot from them or lose yourself
in a riveting novel. But books can also be expensive. So use
your library and borrow books for free.
7. Don't eat out.
Cafés and restaurants can be expensive. Even cheap meals cost a
lot if eaten regularly. Spending $50 a week on a restaurant
meal once a week is $2,500 a year. Even having a harmless
coffee every day can cost over $1,000 a year. So make eating
(and drinking) out a treat now and again and not a regular
occurrence.
8. Take away the take-aways.
Gather together all your take away menus that you have stashed
in a kitchen drawer and throw them away. Home cooking is far
more healthier and a lot less expensive.
9. Eat seasonally.
Fruit and vegetables are far che3aper to buy when in season. So
don't go buying expensive tropical fruits from another country
when your country is in winter. Wait till summer and then buy
the cheaper version from closer to home.
10. Buy used.
It's always much cheaper to buy things second hand rather than
new. Electrical items should always be bought new (it's safer
and you get a warranty) but clothes, toys, furniture and
everything else can be bought at bargain prices. (But only buy
things you REALLY need.)
11. Furniture restoration.
Cleaning up and restoring old furniture can not only save you
money, but can also be very rewarding if you can buy an old,
cheap piece of furniture and work on it till it looks like new,
it gives you a flowing feeling of job satisfaction. Your
library will be full of useful books on this subject or your
local college may have courses.
12. Learn to sew.
Being able to repair clothing or upholstery can a time saver as
well as a money saver. It's far quicker to repair something
than to have to go out and find a new one. So learn a few
sewing techniques or see if there is a local upholstery course
being run in your neighbourhood. A stitch in time really does
save.
So there you have it. Follow the above 12 strategies and you
are guaranteed to become debt free.
And then the next step is to get on the road to wealth.
Learn how to be cashed up, wealthy and laughing quickly and
easily at GettingRichSlowly.net. You'll find all
different kinds of ways to get out of debt, save money, make
money and invest money.
So if you're looking for an easy way to rid yourself of debt
for good and become wealthy, take a look now at GettingRichSlowly.net.
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