We’ve all heard that myth that dreaming
about your teeth falling out means you’re worried about money – but what if Mr.
Sandman leaves you checking your teeth every single morning? If money is all
you can think about, it might be time to make some changes. Want to get out of
debt but just not sure where to start? We can help. Here are 5 tips to help get
you started!
1.
Create a budget and track
spending. If you don’t know what you owe, or where your money is going, you
can’t realistically make a plan to get out of debt. Inventory your debt totals,
create a realistic budget and track your monthly spending in order to motivate
and eliminate.
2.
Pay more than the minimums.
When your credit card bill comes and your minimum payment required is $50, that
doesn’t mean that $50 will be taken from your total owing. The majority of this
total goes right to interest, so stop paying only the minimum on your credit
cards and pump up those payments as much as you can!
3.
Stop spending. Sure, this may
seem like common sense, but unless you actually do it you are not fixing
anything. Look back at that tracker and identify areas that could benefit from
a slash. Or, if you can’t seem to resist temptation, get rid of that credit
card, take it out of your wallet, or find another effective way to stop using
it!
4.
Get debt help. Worried that you
can’t tackle your debt on your own? You don’t have to. Dealing with debt can be
tough, so why not research and get in touch with a reputable, professional debt
management firm. There you can get advice on debt relief or find out more about
solutions to actually get rid of the money owed.
5.
Stay focused. Don’t just say
you are going to get out of debt – do it. Stay focused on the end goal, not on
how tough it is to get there –most good things don’t come easy! Use your
monthly tracker (and those decreasing numbers) as motivation!
For more debt reduction tips please contact
DebtCare Canada by calling 1 (888) 890-0888 or visit us online at www.debtcare.ca
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