Debt isn’t a good thing for anyone to have, so it’s important that it’s cleared as soon as possible. Having bad debts can mean a bad credit rating, or even bankruptcy, which will then cause problems when you want to get a mortgage, for example. If you’ve got debt, now is definitely the time to start being sensible with your cash and clear it:
Don’t Add Anymore Debt
The amount of people that want and try to clear their debt and yet still add more debt on to it is actually astonishing. People are constantly taking 3 steps forward and then another 3 or 4 backwards when clearing their debts – it’s madness! Stop taking out loans, definitely stop taking out loans to pay other loans, stop borrowing money from friends and family, and stop using your credit cards to buy stupid things!
Bury Your Credit Cards
Too many people rely on credit cards to buy things, and while sometimes it may be a good idea to use a credit card for a purchase (financial protection on large, expensive items), it’s not a good idea to use it for everything. If you simply can’t control your spending when it comes to your credit cards, then there’s only one solution; bury them. Literally, bury your credit cards in the garden and don’t even think about digging them up! You could even freeze them in a large pan of water if you wanted, whatever you think is the best deterrent for your spending.
You might think, “duh, why don’t I just close the account?”, but closing credit card accounts can actually have a negative effect on your probably already awful credit rating.
Change Your Attitude
Stop crying into your pillow every night. Stop wailing “I’m doomed, doomed!” at the top of your voice. Stop moaning to every Tom, Dick and Harry that will listen about your money problems. Crying, wailing, and moaning will not make any positive changes and you’ll probably only make people think you’re weird.
Instead, you should totally change your outlook. You can get rid of your debt, and you will get rid of your debt. It should be your number 1 priority – so attack it and don’t stop until it’s too scared to come back!
Improve Your Income
Could you be doing more hours at work? Could you be offering to do odd jobs for other people? There’s got to be something extra you can do to help improve your income, and once you’ve found that something extra use it to kill off your debt once and for all!
Make A Budget
Budget for everything you need to buy; food shopping, home accessories, bills, clothes, dog food, etc. Make a realistic budget and set how much you can spend each month on certain items, and include the amount you want to pay off of your debt each month. Make sure you’ve got your priorities right here – clothes could probably wait, but you’ve got to feed your dog!
Make clearing your debt your number 1 priority and start now!