Getting the correct debt elimination advice can be hard sometimes. Believing what people are telling you can be over whelming.
If you are in debt, and really sick of it, then you may want to hear what I have to say. I am no longer in debt, and that is because I asked and listened to the experts debt elimination advice, and followed it to the letter. Here are a few of those tips that I was given.
1. Analyze your spending habits. Do you have a habit of spending little bits of money here and there? Do you have a lot of credit cards? The biggest key is so simple, but yet, so many of us have the hardest time giving up spending money. Stop the spending madness! Buy only what you NEED, not what you WANT. I have made it a habit to always ask myself this when I am anywhere that would like to take my money.
2. Destroy your credit cards! Get rid of them, I don’t know how you will do it, the important thing is that you DO IT! You cannot ever get out of debt as long as you are creating new debt, and it is so tempting to use that card just this “one time”. Those “one time only” tend to add up with some pretty hefty interest. If you follow the debt elimination advice given to you then you will be able to do this.
3. Adopt a cash only basis or use a debit card. There is something about using cash, it is tangible, you can see it, feel it, and watch it go as you hand it over to the clerk. It is harder to spend large amounts of cash because you actually have to process it. When you are using a credit card, you have in your mind that you can pay for it later. Well, later is here, and time to get a move on. The best debt elimination advice that was given to me was if I need to use my credit card then I don’t need it.
4. Keep a diary on your spending habits. When you can actually see what you are spending your money on, you gain a clearer picture of your habits and where all your money is going. This is recommended by all the experts when giving their debt elimination advice. You will be amazed when you look at this, and realize, wow…I could have lived without that. If you stop and buy coffee every morning, keep track of it, every time you stop at the station to get a Diet Coke, or when you put gas into your car. No matter how trivial or small the expense, you need to track it so you can see where you money is going and why you are in debt in the first place.
5. Be patient and keep your eye on the goal; this is the key to my debt elimination advice. You can do this, just put your mind to it. But no matter the pain, it is so worth the peace that will be yours when you are done. Forget the glamor for a while, you are now going to be “thrifty”. Make your lunch for work, find a good deal on a coffee maker, you will save so much just by skipping that morning coffee run.
Some final tips on debt elimination advice