So, if you’re in debt, the trick is to get yourself out of it, and set yourself on the road to becoming Debt Free. Its not going to be easy but wouldn’t you want to put some work in to live a Debt & Stress Free Life.

And that programme starts here.

To get out of debt, you need to shed the luxuries.

You buy only what’s needed and you live within your means.

You drop the flying lessons, your personal trainer and you stop eating out 4 and 5 times a week. You try to recycle your left over food into another meal, you buy cheaper food, you cut out the alcohol, you cancel your excessive subscriptions and you make significant cuts wherever you can. Every bit you can save will be able to go towards your debt program.

Yes, I know it’s unpalatable and heavy medicine, but you most probably got yourself into a mess with your own liberality and now you’ve got to take the steps that are necessary to get you out of the pickle you’re in.

So, sit down now and make two lists.

Take a sheet of A4 paper and fold it vertically in half, that’s side to side, not top to bottom.

Now you’ve got two columns, one on either side of the fold.

In the left hand column write “Must Haves”

In the right hand column write “Don’t Need”.

Now, take a moment to think about your life.

What must you have to enjoy your life and what can you sacrifice to get out of debt?

Write them all down. And be hard on yourself. This is no time to cut corners or make excuses. If it has to go – get rid of it!

You’d be surprised even if you only look at a typical month’s expenditure how much you can save if you really think about it.

But saving it on paper really isn’t much good.

The money you save in the right hand column by cutting out unnecessary extravagances must be used to attack, reduce and pay off your debt.

If you can save yourself £50 a week, then you can afford to pay off an additional £200 of credit card debt each month. Take that small step and you’ll see you credit card debt start to tumble.

Be focused. It won’t be easy and you will have to make sacrifices. But it will be worth it and you’ll soon see the effect in your pocket and in your smile.

If you’re to get out of debt, what you’ve got to do is take stock of exactly where you stand financially.

You’ve got to see and understand where you are haemorrhaging money and you’ve got to work out what you can do to stem the flow.

That way, you gain control and that’s what managing your debt is all about – you regaining control of your own money.

You see, at the moment, you don’t control your options with the money you earn. Your debt does.

That is the position we have to change.

We have to put you right back in control so that you decide who gets the money and where it goes.

And, pretty soon, you’ll have squared your debts & become Debt Free and be in a position, perhaps, to invest some of your money in a business that could make you seriously wealthy.

Now from where you’re sitting, wouldn’t that be something worth shouting about?

Stay tuned for the next post as we take the next step to becoming debt free.

Tags: deal with debt, debt free, debt help, debt help blog