Debt Relief Tips – How To Manage Credit Deb And Spend Wisely

Debt Relief Tips How To Manage Credit Deb And Spend Wisely

The other day, I posted an article with 5 tips to help you kiss your debt goodbye. Since there are certainly no shortage of tips for finding debt relief, here are 5 more tips to help you break the bonds of your debts and achieve financial freedom.

1. Cut the cards. Once you've got your balances across all credit accounts cut down to size, it's time to take stock of which cards you actually use and need. If any of your cards are less than a year old, and were one of those high interest accounts as well, pay them of and close them. Not only are the high interest rates killing your wallet, but the young age of the account means they can be taken out with minimal damage to your credit report.

2. All others pay cash. If you've been used to paying for everything from bills to a gallon of milk with your MasterCard, it's time for a change. While it's a good idea to keep at least 3 cards open and to continue to charge on them, you should limit those charges to smaller, more manageable items (like groceries) and not overly ridiculous expenses (like a 60" LED TV, even though they look soooo awesome), so you don't end up right back at step 1 in three months.

3. "Hey, so, uh...about that money you owe me..." Avoid borrowing money to help you get out of debt, especially consolidation loans. Not only does borrowing money to pay back money make about as much sense as a dog chasing his tail, but debt consolidation looks bad to creditors and lenders when it shows up on your credit report and drops your score.

4. Look for other ways to save/make money. If you can, consider taking a second, part-time job for a few months to help reduce your debt. Barring that, you can always hold a garage sale. You'll have more money to take down your debt and you'll have cleaned out any junk you never used anyway.

5. Call in the professionals. If you feel like your bills are piling too high and can't even begin to think about taking care of all your bills yourself, consider consulting a debt settlement agency. Many are skilled at negotiating your debts down to considerably more manageable balances and can make the road to financial recovery that much easier.

POST COMMENT

Debt Consolidation Help – Tips To Get The Best Deal On A Debt Consolidation Debt Relief Tips – How To Make A Realistic Debt Consolidation Plan Tips on Choosing Your Granite Countertops Tips on How to Turn Your First Date Into More Dates 12 Great Seo Tips Tips for Using a Forex News Calendar to Your Advantage Traffic Building - Begin Thinking Outside The Box - Five Tips How Do You Jump Higher - Tips That The Pros Follow Ski Resort Guide and Accommodation Tips Tips for Hiring a Commercial Maintenance and Janitorial Cleaning Company Shokz Starcraft 2 Zergling Rush Strategy Guide - A Full SC2 Information with Usable Tips? Tips For Choosing The Right Houston Property Agents Find Banks without Overdraft Fees: 3 Tips