Plan to Get Out of Debt? Here Are a Few Tips How
Are you struggling with your personal finances? Do you seem to get into one credit card debt after the other? Have you tried to get out of debt but have still remained so? Well, join the club.
If there is one guarantee I can give you right now, is that you are not alone.
With so much bills piling up on the table, all of us can use a bit of help in the debt management department.
Here are a few tips I discovered on how to ultimately overcome this seemingly impossible task.
First of all, you need to track down exactly where your money goes.
In order to balance your personal finance account, you need to at least know where your current money is going.
Believe it or not, it's not really a matter of us having very little or no money at all.
Rather, we do have an inflow of cash, but our outflow exceeds it.
If you could make a faithful (and honest) accounting of your daily, weekly, monthly and bi-monthly expenses, you can see where your problem areas are.
In my case, I (unknowingly) splurge right after payday.
It seems that most of my unnecessary expenses surge every after payday; which incidentally causes me to be short on funds for the next three weeks.
After that, I have developed the nasty habit of charging everything to my credit card.
Also, when I do my weekly groceries, I tend to use my credit card a lot.
Since I really do not worry whether or not I have enough ready cash on hand, I tend to spend almost half of my salary on unnecessary stuff from the grocery counters.
(I mean, honestly, I just noticed that my credit card receipts show that I buy half a dozen buckets of butter every week.
) That is primarily the reason why I never seem to run out of credit card debt.
By simply knowing when and why I spend too much money, I was able to cull the greater part of my expenses, or at least stretch my payday money into lasting for 3 more weeks.
It's not much, but it is a start.
Secondly, since I now know that my credit cards are causing me too much misery, I decided to leave it on the back burner, and use ready cash instead.
After (painstakingly) paying off all my high-interest credit debts, I have achieved a plateau where I am without debt from any credit card company.
Mind you, this is not particularly easy, and my bank savings is at an all-time low.
Plus, since paying off my debts, I noticed that I have not had much money to buy some of my usual luxuries like new pairs of shoes or nights out with the girls.
However, I still find myself with an extra $20 now and again - something which I usually never see in my pocket a week before payday.
And lastly, I now ay my bills as soon as they arrive.
I used to leave payment of my monthly bills at the very last minute.
However, this gives ma a sense of false security, a feeling that I would actually have the needed cash when the time comes.
More often than not, my pockets will be empty at that time, and I would be scrambling for loans from friends, family and even mere acquaintances.
By simply paying my bills ASAP, I can budget the remainder of my money for the rest of the month.
Surprisingly enough, I am now managing to save a few dollars here and there.
You are not alone.
With so much bills piling up on the table, all of us can use a bit of help in the debt management department.
Here are a few tips I discovered on how to ultimately overcome this seemingly impossible task.
First of all, you need to track down exactly where your money goes.
In order to balance your personal finance account, you need to at least know where your current money is going.
Believe it or not, it's not really a matter of us having very little or no money at all.
Rather, we do have an inflow of cash, but our outflow exceeds it.
If you could make a faithful (and honest) accounting of your daily, weekly, monthly and bi-monthly expenses, you can see where your problem areas are.
In my case, I (unknowingly) splurge right after payday.
It seems that most of my unnecessary expenses surge every after payday; which incidentally causes me to be short on funds for the next three weeks.
After that, I have developed the nasty habit of charging everything to my credit card.
Also, when I do my weekly groceries, I tend to use my credit card a lot.
Since I really do not worry whether or not I have enough ready cash on hand, I tend to spend almost half of my salary on unnecessary stuff from the grocery counters.
(I mean, honestly, I just noticed that my credit card receipts show that I buy half a dozen buckets of butter every week.
) That is primarily the reason why I never seem to run out of credit card debt.
By simply knowing when and why I spend too much money, I was able to cull the greater part of my expenses, or at least stretch my payday money into lasting for 3 more weeks.
It's not much, but it is a start.
Secondly, since I now know that my credit cards are causing me too much misery, I decided to leave it on the back burner, and use ready cash instead.
After (painstakingly) paying off all my high-interest credit debts, I have achieved a plateau where I am without debt from any credit card company.
Mind you, this is not particularly easy, and my bank savings is at an all-time low.
Plus, since paying off my debts, I noticed that I have not had much money to buy some of my usual luxuries like new pairs of shoes or nights out with the girls.
However, I still find myself with an extra $20 now and again - something which I usually never see in my pocket a week before payday.
And lastly, I now ay my bills as soon as they arrive.
I used to leave payment of my monthly bills at the very last minute.
However, this gives ma a sense of false security, a feeling that I would actually have the needed cash when the time comes.
More often than not, my pockets will be empty at that time, and I would be scrambling for loans from friends, family and even mere acquaintances.
By simply paying my bills ASAP, I can budget the remainder of my money for the rest of the month.
Surprisingly enough, I am now managing to save a few dollars here and there.
If there is one guarantee I can give you right now, is that you are not alone.
With so much bills piling up on the table, all of us can use a bit of help in the debt management department.
Here are a few tips I discovered on how to ultimately overcome this seemingly impossible task.
First of all, you need to track down exactly where your money goes.
In order to balance your personal finance account, you need to at least know where your current money is going.
Believe it or not, it's not really a matter of us having very little or no money at all.
Rather, we do have an inflow of cash, but our outflow exceeds it.
If you could make a faithful (and honest) accounting of your daily, weekly, monthly and bi-monthly expenses, you can see where your problem areas are.
In my case, I (unknowingly) splurge right after payday.
It seems that most of my unnecessary expenses surge every after payday; which incidentally causes me to be short on funds for the next three weeks.
After that, I have developed the nasty habit of charging everything to my credit card.
Also, when I do my weekly groceries, I tend to use my credit card a lot.
Since I really do not worry whether or not I have enough ready cash on hand, I tend to spend almost half of my salary on unnecessary stuff from the grocery counters.
(I mean, honestly, I just noticed that my credit card receipts show that I buy half a dozen buckets of butter every week.
) That is primarily the reason why I never seem to run out of credit card debt.
By simply knowing when and why I spend too much money, I was able to cull the greater part of my expenses, or at least stretch my payday money into lasting for 3 more weeks.
It's not much, but it is a start.
Secondly, since I now know that my credit cards are causing me too much misery, I decided to leave it on the back burner, and use ready cash instead.
After (painstakingly) paying off all my high-interest credit debts, I have achieved a plateau where I am without debt from any credit card company.
Mind you, this is not particularly easy, and my bank savings is at an all-time low.
Plus, since paying off my debts, I noticed that I have not had much money to buy some of my usual luxuries like new pairs of shoes or nights out with the girls.
However, I still find myself with an extra $20 now and again - something which I usually never see in my pocket a week before payday.
And lastly, I now ay my bills as soon as they arrive.
I used to leave payment of my monthly bills at the very last minute.
However, this gives ma a sense of false security, a feeling that I would actually have the needed cash when the time comes.
More often than not, my pockets will be empty at that time, and I would be scrambling for loans from friends, family and even mere acquaintances.
By simply paying my bills ASAP, I can budget the remainder of my money for the rest of the month.
Surprisingly enough, I am now managing to save a few dollars here and there.
You are not alone.
With so much bills piling up on the table, all of us can use a bit of help in the debt management department.
Here are a few tips I discovered on how to ultimately overcome this seemingly impossible task.
First of all, you need to track down exactly where your money goes.
In order to balance your personal finance account, you need to at least know where your current money is going.
Believe it or not, it's not really a matter of us having very little or no money at all.
Rather, we do have an inflow of cash, but our outflow exceeds it.
If you could make a faithful (and honest) accounting of your daily, weekly, monthly and bi-monthly expenses, you can see where your problem areas are.
In my case, I (unknowingly) splurge right after payday.
It seems that most of my unnecessary expenses surge every after payday; which incidentally causes me to be short on funds for the next three weeks.
After that, I have developed the nasty habit of charging everything to my credit card.
Also, when I do my weekly groceries, I tend to use my credit card a lot.
Since I really do not worry whether or not I have enough ready cash on hand, I tend to spend almost half of my salary on unnecessary stuff from the grocery counters.
(I mean, honestly, I just noticed that my credit card receipts show that I buy half a dozen buckets of butter every week.
) That is primarily the reason why I never seem to run out of credit card debt.
By simply knowing when and why I spend too much money, I was able to cull the greater part of my expenses, or at least stretch my payday money into lasting for 3 more weeks.
It's not much, but it is a start.
Secondly, since I now know that my credit cards are causing me too much misery, I decided to leave it on the back burner, and use ready cash instead.
After (painstakingly) paying off all my high-interest credit debts, I have achieved a plateau where I am without debt from any credit card company.
Mind you, this is not particularly easy, and my bank savings is at an all-time low.
Plus, since paying off my debts, I noticed that I have not had much money to buy some of my usual luxuries like new pairs of shoes or nights out with the girls.
However, I still find myself with an extra $20 now and again - something which I usually never see in my pocket a week before payday.
And lastly, I now ay my bills as soon as they arrive.
I used to leave payment of my monthly bills at the very last minute.
However, this gives ma a sense of false security, a feeling that I would actually have the needed cash when the time comes.
More often than not, my pockets will be empty at that time, and I would be scrambling for loans from friends, family and even mere acquaintances.
By simply paying my bills ASAP, I can budget the remainder of my money for the rest of the month.
Surprisingly enough, I am now managing to save a few dollars here and there.
