- Stop creating new debt; stop shopping for things you don’t need or can’t afford. If you are drowning in debt, why spend money you don’t have?
- Get rid of your credit cards; while you are trying to get out of debt say bye to the things that will tempt you to spend money.
- Create a budget to see where all you money is going. If you see where your cash is going, you’ll start making better decisions on how you spend your money.
- Sign up for free sites, that will help you to manage your finances, and plan your budget better. Mint.com and LearnVest are two free programs to help you get started.
- Pay your bills on time and if you can; try to double your payments, so you can pay off your debt quicker.
- Know what your fico score is, and if it’s low, start making plans on how you are going to raise your score.
- Using Coupons can cut your grocery bills in half if you make a list and plan your meals for the week.
- If you have cable television and don’t need it, get rid of it; the money you use to pay your monthly cable bill can go towards paying off your credit card debt.
It’s up to you to make the decision to become financially free, so get started now and get out of debt this year.
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