Manage Debt

Want Out of the Debt Hole? Stop Digging

One of the first, and most important things, that you need to do if you are looking to get out of debt is to stop spending more. It sounds obvious, but it really is difficult to stop digging when you’re trying to get out of the debt hole. Here are a few strategies that might help you stop the spending habit and turn things around:

  • Put your credit cards away: As you might imagine, one of the most important things to do is to put the credit cards away. Even though might think that you will pay off the amount you spend — plus extra — each month as you work on debt reduction, it’s so easy to go overboard. Instead, put your credit cards where you can’t get them very easily. Leave them home when you go shopping so you won’t be tempted to just use them.
  • Take an honest look at your spending: Look through your spending, and figure out what the most important items are. Determine which items you can cut from your spending. From small and simple ways to save money, to large opportunities, look carefully at your spending and identify where you can cut back.
  • Watch out for “deals”: Even when you are trying to get out of debt, a good deal can be really tempting. However, you have to be careful. Is it really a deal? Or is it more of an excuse to spend money? Turn off your notifications from daily deal sites, and don’t clip coupons for items that you wouldn’t normally get anyway. Remember that unplanned spending on unnecessary items is still spending, and not a true “bargain.”
You really do need to stop spending as much money if you want to get out of debt. The first step is to stop adding to your debt; once you have your spending under control so that you are truly living within your means, you can then begin to take active steps to reduce the amount of debt that you have. But none of those steps will work effectively if you are still living beyond your means. Until the spending is stopped, you’ll be taking a step back for every step forward, and you’ll be trapped in a frustrating cycle.
Once you stop the extra spending, you can make a debt reduction plan to help you get rid of your obligations once and for all, including a plan that involves earning more money to help speed the process.
14 Comments

14 Comments

  1. Estell

    September 24, 2018 at 4:21 pm

    I¡¦ll right away clutch your rss feed as I can’t find your e-mail subscription hyperlink or e-newsletter service. Do you’ve any? Please permit me realize so that I may subscribe. Thanks.Most impoprtant point is choosing words

  2. Magda

    October 5, 2018 at 12:52 pm

    Do you have more great arcetlis like this one?

  3. 利率低至 5.25,免MC審批,歡迎查詢。 高成數按揭. 免費按揭轉介. 銀行利率低. 專人跟進. 快捷取款

  4. #淘寶開箱 森女大愛衫衫衫/MyMelody燈DIY(連結分享) cynbunny.com #淘寶開箱 森女大愛衫衫衫/MyMelody燈DIY(連結分享) cynbunny.com

  5. 毛孔粗大

    October 18, 2018 at 4:17 am

    搶先一步 才能白得耀眼突破美白極限卓越白皙 煥光無暇

  6. ARWIN 雅聞 【彩妝系列】腮紅刷的商品介紹 ARWIN 雅聞,彩妝系列,腮紅刷

  7. Barcelona skipper Andres Iniesta has refused to confirm whether or not he will be staying as he focuses on pulling off another dramatic comeback in the Champions League. Barcelona captain Andres Iniesta refuses to commit future to the club ahead of Juventus showdown

  8. futbol.run Hristofor Hubchev

    November 19, 2018 at 6:10 pm

    Relive all the action as Liverpool won a controversial clash with Sunderland and title chasers Chelsea eased past Manchester City at Stamford Bridge. LIVE: Liverpool win controversial clash with Sunderland and Chelsea cruise past City – as it happened

  9. SammyMig

    February 27, 2019 at 10:39 pm

    Read our in-depth iPhone XS Max review
    Read our hands-on iPhone XR review
    link
    Read our hands-on Apple Watch 4 review
    iPhone XS price and release date
    iPhone XS

  10. SammyMig

    March 3, 2019 at 2:46 am

    Read our in-depth iPhone XS Max review
    Read our hands-on iPhone XR review
    link
    Read our hands-on Apple Watch 4 review
    iPhone XS price and release date
    iPhone XS

  11. GeorgeVag

    March 6, 2019 at 3:22 pm

    Los Blancos, with captain Sergio Ramos suspended after deliberately collecting a yellow card in the first leg, had been looking to build on a slender 2-1 lead from that game in Amsterdam and stay on course for a potential fourth straight European triumph.

    However, after Raphael Varane’s header rattled the crossbar, Ajax raced into an early lead through Hakim Ziyech before Dusan Tadic set up David Neres for a second in the 18th minute.
    tinyurl
    Real Madrid were forced into two changes when Lucas Vazquez and Vinicius Junior went off injured, with substitute Gareth Bale hitting the post just before half-time.

    Ajax looked to have put the tie to bed when Tadic swept in a brilliant third goal just after the hour – which was eventually given following an extensive Video Assistant Referee review to check if the ball had gone out of play in the build-up.

  12. AnthonyElupe

    March 8, 2019 at 10:32 am

    Inter Rapid Wien live score (and video online live stream*) starts on 21.2.2019. at 20:00 UTC time at San Siro/Giuseppe Meazza stadium, Milan, Italy in UEFA Europa League, Knockout stage – Europe. Here on SofaScore livescore you can find all Inter vs Rapid Wien previous results sorted by their H2H matches. Links to Inter vs. Rapid Wien video highlights are collected in the Media tab for the most popular matches as soon as video appear on video hosting sites like Youtube or Dailymotion. We’re not responsible for any video content, please contact video file owners or hosters for any legal complaints tinyurl.

  13. DerekJoype

    March 10, 2019 at 2:30 pm

    Ernest Quintana, 78, was at Kaiser Permanente Medical Center in Fremont when a doctor – appearing on the robot’s screen – informed him that he would die within a few days.

    A family friend wrote on social media that it was “not the way to show value and compassion to a patient“.

    The hospital says it “regrets falling short” of the family’s expectations.

    Mr Quintana died the next day.

  14. HenryRix

    March 12, 2019 at 10:23 am

    Theresa May says she has secured “legally binding” changes to her Brexit deal, a day ahead of MPs voting on it.

    But European Commission President Jean-Claude Juncker” warned if the deal was voted down there was “no third chance”.

    They spoke at a joint press conference in Strasbourg after a late meeting.

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top