how do you get out of debt without getting farther in debt?

Answer 1

1) track ALL of your spending, from the rent or mortgage down to the 50 cent candy bar.

2) Prioritize all of these. Which do you HAVE to do? Housing and food are pretty much #1. That candy bar? Pretty low on the scale, I'd guess. Keep in mind that while you may need something in a category, (like a car, for instance) you don't HAVE to have a Corvette when a used Honda Civic will get you there and back.

3) Make a budget, and list only the absolute essentials. The rest should go towards paying off debt until you start getting your head above water.

Keep in mind that if you don't do this yourself, sooner or later the bankrupcy courts will do it for you.

Answer 2

First, STOP spending. If there is still problem paying bills, that means the income will have to increase, by seeking additional employment part time or another full time job. Also eliminate some of the unnecessary debits if possible (no mention of your details, so not sure if there is any). Stay focus and live on the minimum daily necessities. It will take some times, but if you just do these basic steps you will PAY OFF everything.

Answer 3

You basically have to put yourself on a strict budget, no over spending, no eating out, and no extras only the necessities. It helps to write every single purchase (even if you stop at the store for a coke) for a month to find out where your money goes. change your spending habits,put your credit cards away.or just cut them up. It can be done, I have come a long ways, but still have a long way to go. You just have to realize you more than likely didn't get into that debt overnight...so don't expect to get out of quickly. and don't let that discourage you. You Can Do It! Good Luck!

Answer 4

Consolidate your bills if you can, & stop charging anything. If you don't have the cash to pay it, don't get it. Also, you might want to speak with a credit counselor, they could be of help. Sit down & figure out exactly what you spend $$ on each month. Cut out any extras that you don't need, like morning capuccinos, eating out at lunch etc. You will be surprised at how much $$ you can save by doing that.

Answer 5

Figure out the difference between needs and wants and mercilessly eliminate all spending on the latter. Pay off your high interest balances first (while paying the minimum on the other accounts). Talk to your banks to consolidate accounts and/or lower your interest rates. Get additional jobs (no job is menial as long it is legal) to increase your earnings and use the extra money to pay off. Educate yourself on how to manage your finances and start investing for the future. Invest in yourself -- education, esp. self-education, is the key to success.

Answer 6

Figure out where you can cut spending and use that money to pay your bills. Learn to live within your means instead of beyond them.

Answer 7

pay off your debts

Answer 8

You don't, at least not in this country.
Both big government and greedy financial corporations run society by keeping everybody in a constant and steady state of debt.