Are you ready to experience the freedom of a debt-free life? No matter how much debt you currently carry, it is possible to eliminate it if you commit yourself to doing so. There are a number of things that you can do to get out of debt. Some include relatively easy changes in your habits, while others require more discipline. Freedom Debt Relief has helped over 400,000 people (and counting) eliminate their burdensome debt. Here are their top tips for getting out of debt.
Tip #1: Learn to Budget
To get out of debt and stay out of debt, you must learn to create and follow a budget. Make a list of all your expenses. Be honest and include everything. Then take a good look at what you spend your money on. When you add it up, is there any money left? Or, are you spending more than you earn?
If you are spending too much, you need to cut some expenses. You should not spend more than you make because this is when you will turn to the credit cards. You could pack a lunch for work instead of eating out, clip coupons, shop the sales for groceries, or even carpool to work to eliminate gas costs. If you are spending money on monthly credit card payments, you could also consider the Freedom Debt Relief program to get this cost down as well.
Tip #2: Make a Lifestyle Adjustment
A lifestyle adjustment goes hand in hand with budgeting. After all, odds are good that living beyond your means is what got you into debt in the first place. Do you enjoy drinks and dinner out with friends every weekend? Do you like to buy new clothes or accessories for your home? Is the vehicle that you drive really something that you can afford? Are you using credit cards when you don’t have the money for something?
If you are serious about freedom from debt, you may need to delay these pleasures until you have resolved your debt. You can still have a life, but you should make some adjustments. For example, invite your friends over for a potluck dinner instead of going out on Friday night. Try shopping resale shops or garage sales for items that you need. Today, there are many online garage sales on sites such as Facebook where you can find just about anything. And if you are in the position to make a change of vehicle, trading it in for something more affordable is another option.
Finally, if you are still using the credit cards, it may be time to stop. If you keep using them after you pay them down, you won’t be able to pay them off. Freedom Debt Relief could help you eliminate your credit card debt.
Tip #3: Look for Ways to Pay Down Debt Faster
If you want to get out of debt and get back to doing the things you enjoy, then you’ll want to eliminate it as quickly as you can. Reducing spending is one way. Additionally, if you increase your income, you can reduce your debt even faster. How do you increase your income? There are a number of ways such as:
• Selling things that you don’t use or need anymore.
• Taking on a side-job such an Uber driver, babysitting, mowing lawns, or even working as a freelancer.
• Turning a favorite hobby (like jewelry making, woodworking, etc.) into a source of income.
As you earn extra income, it can be tempting to use it for the things that you want. Freedom Debt Relief recommends that you commit to applying all of your additional income towards debt to eliminate it faster.
Tip #4: Keep Track of Your Progress
As you begin to knock out your debt, it is important to keep track of it. Watching it start to go down is motivating and will help you to stay committed to it. So, set reminders on your phone or sign up for programs such as Mint.com that allow you to see all of your accounts in one place. Make it a habit of looking at this regularly, and reward yourself for your progress.
Freedom Debt Relief offers a personalized client dashboard for its customers. When you choose this program to help you eliminate debt, not only do you receive valuable advice and support from one of our certified debt consultants, you’ll also be able to track your progress regularly.
Our debt negotiators will contact your credit cards to negotiate a settlement for much less than what you owe. And with your approval, we will settle your debt and you can track all of the progress from your dashboard. We have settled over $7 billion in debt since 2002 and we could help you eliminate yours.