Time to Formulate a Debt Busting Plan!

If you followed my advice and made a list of ALL debts then you are probably feeling pretty blue right now.

What is your next step?

Well I hope you have been busy checking into lowering your insurance rates, getting on some budget plans with utility companies and clipping coupons to save on groery shopping! That IS a very good start!

I do hope you have called the local Consumer Credit Counseling Agency in your area to see if they could assist you.

What you really want to do now it formulate a plan to start knocking off debts.

Sell some items you don't need or want on Ebay, have a yard sale or take items to a consignment shop. Any or all of these can bring in some extra cash that you can apply yo your debts.

Is overtime available where you work? If it is consider working say five extra hours per week and apply this extra money to your debts.

Create small goals that are obtainable. Winning the lottery is not an obtainble goal :)

Putting in some extra hours at work and selling off stuff you don't need ARE things that are obtainable.

If you did not have luck getting help through CCC, then I would take the extra money and apply it to your credit card that has the highest interest. If you don't have credit card debt then apply the extra money to things like medical bills or even your car payment to help get it paid off faster.

Make some goals and get some plans in action!

Time to Kick Debt Out The Door

It's a brand new year and time to set in motion a plan to get rid of debt.

For starters write down ALL your debts, even if you owe your best friend $20, write is down as it is money you OWE someone!
Then take some time to look over your debts and see how foolish you were and how you dug yourself a deeper hole by continuing to charge on credit cards knowing you could barely make those minimum payments.
When you have finished taking a hard look at your foolishness you need to get your priorities straight.

Can you afford the place you live in? Can you afford the car you are driving? There are ways to downsize.
*Move to a less expensive place, get a cheaper car or one that is easier on gas and insurance costs.
*Take a good look at your insurance policy and make sure you have the right kind of coverage to suit your needs and eliminate any extras.
*Put credit cards away. Try to find a credit card with a lower interest rate and transfer balances to that card.
*Start using coupons and shopping sales when it comes to groceries and household items
*Check with your utility companies and see if you can get on payment plans where your utilities are the same cost each month
*Make an appointment to visit the local chaper of the consumer credit counseling agency. They can possible help you get some interest decreased and late fees stopped and help you get current with some debts.
*If you get an income tax return, don't splurge! Use it to pay off some debts and put some in an emergency savings account

These are just a few ways to start the year off right!