Trying to pay off debt can be one of the most daunting things we do as adults. That anxiety gets even worse when you’re already on a limited budget. Unfortunately, wishes on shooting stars or Santa Clause aren’t going to make that debt magically disappear. Here are a few tips that can make paying off that debt a little less intimidating.
Make a Plan
A payment plan, that is. Think of your debt as a car or house payment. Take the amount of debt you have and divide it by the amount of months you’d like to get it paid off in. If that payment amount is too high then do some adjusting until it works with your budget. It may seem tedious, but not having a plan is a great way to keep yourself in debt.
Use that EFT
The best way to let go of money is by not seeing it to begin with. Once you have your payment plan figured out set your bank account up to automatically transfer that money to your creditors on pay day. That way it doesn’t get spent elsewhere and you don’t have to struggle with convincing yourself to make the payment.
Change Your Habits
This means cutting costs where you’re able and changing your spending habits. Work on being a little more frugal. Not only will it help get that debt paid off but it’ll also help keep you from lapsing into debt again in the future.
While all of these suggestions are great ways to get your debt under control it’s also wise to seek some help. Debthelper.com is a wonderful resource when it comes to helping people eliminate the debt from their lives. Their credit counselors will help you develop a personalized strategy to get you back on your feet as quickly as possible.