Getting Out of Debt by Cutting Down
Well, you open your mailbox and there is; yet again, another red stamped form letter marked ‘Final Notice' on the front. You could spend countless tears and time screaming in the dark questioning how things got this bad. But, you know that it would not do any good. So, wipe away those tears, and let us see what we can do to begin getting out of debt.
Start Small and Think Big
First, you want to bring together all of your bills, bank statements, and loans together. Sit down and really understand exactly how big of a project getting out of debt is really going to be for you. If you simply are having a bit of slow time at your work, or some unexpected expense, for example, something medical has happened think about what you can give up short term until you can catch up.
You might for example start by packing your lunch every day for work. In addition, it might also be a good time to give up those break time candy bars, sodas, and chips. And, you might consider looking a little harder thru the newspaper for both coupons, special deals, and other money saving items.
And, if again, your debt is not particularly large you may simply cancel many of your premium services. After all, if it means getting out of debt, who really needs 178 channels of HBO? Or, a health club membership that you never really use anyway?
But, I Have Debt with A Capital D
Unfortunately, getting out of monster debt requires, often, monster effort to begin to get out from under it. But, much of what can be done to help can actually cause you very little pain. It would be wise to pull the plug on things like cable TV. Cannot live without your TV? Go to your local library and rent a movie or better yet a book. Cancel your long distance service, and simply buy phone cards for your long distance needs.
When you are shopping, you should always try and stick to your list. But, also, you should try and plan your menus around what is on sale. It is not going to kill you or your family to eat the same thing a couple of nights a week until things get better for you. And, things like bananas and other foods are far healthier than the bowl full of cookies you are accustom to having around.
And, for goodness sakes, buy generic foods. They are often of comparable quality at a fraction of the cost, and with every bite you take you will be on the road to getting out of debt. If you are worried about the stigma of eating generic white-boxed foods, simply use one of the old name brand boxes and put the new bag of generic food inside. None of these cut backs are particularly the end of the world if you can begin getting out of debt.
Lastly, don`t think of your debt as unbeatable. Just remember the ancient Japanese proverb that asks a man how he would ever hope to move Mt. Fuji, shovelful by shovelful. You can succeed in getting out of debt if you try.
