Small Steps For Debt Relief

Paying off debt is a process and can take a while

. Sometimes staying motivated during the process of repaying your debt can be a challenge, but the payoff in the end will be huge...debt freedom. There is nothing that will allow you more choices and freedom that not having debt. The best way to get started is to find out where your money is going and make a plan for spending it.

I guess this plan would be a budget, but to me, a budget is a lot like a diet. They don't often work and most people don't stick to them. Make a list of your expenses. The best way to do this is to use financial software or a spreadsheet that is designed for this purpose. The reason I say this is because most people have no problem listing monthly expenses, but it is things like haircuts and oil changes that people often forget to include in these lists.

Filling out one of these sheets thoroughly will give you an idea of what your monthly expenses are and you can adjust from there to be able to meet all your obligations and save for the future. The best way to manage your expenses is by cutting back in one area if you would like to increase another. If you want to spend more on clothes than you have allotted, you will have to find a category where you can cut back. If you can effectively do this, you will be able to live within your means and meet the goals you have set for yourself.

Take a good look at your list and see where you can make permanent cuts are lengthen the time between services. If you get your haircut every six weeks, think about whether you can wait eight weeks to have it cut. If you can do this with enough of the items on your list, you should see a significant annual savings. These small steps go a long way in getting you things that you want.

There are many things you can do that will net you an extra $500-$1,000 a month in income. The easiest thing is to pick up additional shifts at a job that you may already have. There are a number of other services that you can do that will net you $100 or $200 a week. Take the time to look around your neighborhood and see what needs done. People are often willing to pay to have these things done and it will help boost your bottom line and pay off your debt.

by: Marjorie Salada

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