What is the best way to rid yourself of debt???????????

Question

I am having some problems with saving money, and paying my bills on time. I am not that far behind in them, I just want to get them paid and full

Answer 1

It feels as though I have been going through the same situation. What my wife have starting doing is setting up a budget. We write down all of our expenses and what our anticipated income is going to be.

At the same time we are putting a few dollars aside every paycheck for emergencies. You never know when something might happen.

Our focus is on our creditors and the necessities. If there is any extra we give ourselves an allowance. The rest goes into savings with the emergency fund.

There are a number of methods to control your spending once you know where your money is going:

1.Use only cash to pay for things.
2.Put money in envelopes labled with where the money is to be distributed.
3.Don't use the credit cards. Not even if you think it is an emergency. Many times our immediate emergencies are not that urgent.

Answer 2

Every situation is different for every person. It depends if you are talking about monthly bills as far as electric, gas, phone, etc. or if you are talking about credit card bills. If it's the latter, I would focus on getting 1 card paid off at a time. Find any and all extra money you can and put it all the the 1 card you are focusing on and just make the minimum payments on the others. When that 1 is paid off, take the amount you were paying on it and add it to the minimum monthly payment on the next one you want to get paid off. Keep doing this strategy until they are all paid off. If your question does not pertain to credit cards and just the monthly bills, I would suggest getting rid of the ones you don't absolutely need or find another job to earn more money. Hope this helps!

Answer 3

This little trick will work for you, BUT you MUST stay disciplined.
Take your highest interest bill, perhaps a credit card? You need to start to put a little extra on this payment, (preferably doubled) if you can. Continue to stay current with your other bills and payments. Once you pay that high interest bill off, go to your next nagging bill, let's say a car payment. Take the money you were paying on the credit card(s), and along with your regular car payment add these monies. You'll have that paid off quickly. Next, let's say mortgage? Take all those monies plus your regular mortgage payment and do the same until paid off. The trick is to get the first high interest bill paid off and finding the extra money to do so. You may have to give something up for awhile to make this work BUT it does work. Good Luck to you, I promise you'll feel much better.

Answer 4

Stop using any credit cards you have. Pay the minimum due on each one, and use any extra money to lump onto the lowest balance. Soon it will be paid and then use extra money on the next lowest balance. However you choose to do it, the key is to stop charging period.

Answer 5

When you gets into a debt trap it becomes difficult to get out of it. Taking more loans to repay the debts leads to more stress and financial crisis. Finally, there is no option but to adopt debt consolidation, which leads to a new llease of life. Many people receive abusive calls from debt collectors and are stressed. Hence opting for debt consolidation is the number one solution and helps to overcome abusive calls and be free from mental stress.

Answer 6

first thing is to cut up those cards. next is to arrange a budget for your self, and stick with it. also arrange, withingthe budget to pay off the credit cards on a monthly, or even bi monthy schedule. another thing is to pay everything by cash. why, because with cash, its like a reality check to how much u are actually spending. with a credit card, it seems almost surreal, as if you arent spending money.

Answer 7

Buy fluorescent bulbs for every room in your house and buy a 2001 Toyota Prius or 2000 Honda Insight.