Wednesday, June 26, 2013

Conquering Debt Fast - 4 Daily Tips To Help You Pay Off Your Debt

The burden of living with debt can weigh heavy on consumers who feel like they have no options. If you are a person who has problems making ends meet each month due to the bills you have to pay, then there are daily tips you can follow which will help relieve some of that stress. By taking matters into your own hands, you can start to climb out of the financial hole you have dug.

Develop a Monthly Budget
The only efficient way to get your finances under control is to monitor them through a monthly budget. Spend a couple of months logging your spending on important things such as food and gasoline so that you can develop a monthly budget number that you can spend. Then you combine those numbers with your monthly bills and come up with a budget. Once you see your spending patterns on paper, it is easier to control them and get your expenses to go below your income. Mark Weinberger has written several articles on budgeting that can help.

Start a Savings Account
Start a Saving Account
 Image by Cordey

Everyone knows that the best way to get their finances under control is to stop using credit cards, but that is often easier said than done. You can use your monthly budget to determine how much money you can put away in savings each month. Whether it is $5 or $500, something needs to go into your savings account each time you get paid. After a while, you will have the emergency funds you need that will allow you to take care of issues without using credit.

Cut back on Spending
If you are in debt, then a good way to get out is to stop spending money on things you do not need. For example, if you spend $3 every morning on a coffee on the way to work, then that is around $60 per month that you are wasting. Brew your own cup of coffee and save that money. You should also bring your own lunch to work and cut down on those wasted costs as well. Plan your family's entertainment spending to avoid spending more than you have. Try watching a movie at home one weekend instead of paying to go to a theater.

Grow a Garden
Grow a Garden
Image by RaeAllen

One of the most expensive parts of any shopping trip is the fresh fruits and vegetables. You can lower your food bills and save money each month by starting you own garden and growing your own produce. The best way to gain confidence in growing a garden is to start small. Once you get used to caring for a smaller garden, then you can start to expand it out and include more of the fresh fruits and vegetables that you and your family love to eat.

Getting your debt under control takes time, but it is absolutely possible. All you need is a good plan and a way to get yourself into some good daily spending habits and you will have that debt under control and paid off long before you could have ever expected. 

Author Bio: Carly Wright is an activist for fun! From technology and entertainment to travel and leisure she can write about it all. She encourages you to see her tweets @MostlyImWrite