Debt is one of those stressful things in life that keeps us awake at night often, causing depression and anxiety.
And commit to take responsibility for that challenge and get rid of your debts number makes a balance of the situation because you are in debt in which you spend your money how much money you are earning has increased your debt you have problems to get out of payments with strong interests you spend more on paying Your debts or your expenses are associated with the care of a relative, do not worry about finding solutions yet first identify the problem areas.5
First: stay away from negative emotions, consumer habits are deeply personal because they reflect our priorities but often layers of shame are added guilt and regret when it comes to debt acknowledges that none of those emotions will help you solve your current debt problem better stay away from them focus on the fact that you are taking control you are imposing if you are disciplined and you are focused enough to make this happen.
In this article I present a list of important steps you must follow to get rid of your debts forever start number recognizes that you have a problem if you are in debt you have a problem the extent to which the problem is manageable depends on whether you are in debt Planned as student loans or buying a specific type of vehicle to go to your job or in a chaotic debt such as going into debt just to pretend a lifestyle that you can not really afford. You must accept that debt is a problem before you can fix it , so be aware that you have a challenge in front of you.
Second: start writing, get yourself a notebook or a folder to create your action plan and get out of debt.
Write down everything you have identified as a problem area. Make sure you include all your debts to what you have and to whom you owe money and run a payment program.
Third: stop spending impulsively while you are evaluating your consumption habits and developing an action plan to correct your debt stops spending so it will be easier to evaluate how and why you spend your money and when you go shopping again you can do this consciously.
Fourth: record all your expenses create a section in your notebook or an online spreadsheet to evaluate all expenses over the last six months print out credit card statements online bank records and get those receipts from your wallet your car and your gym bag.
You must get an accurate picture of where your money is going and if debt is a problem you probably do not have this image as clear as you would like.
Fifth: identify patterns you can identify patterns in your expenses for example you always spend too much when you visit certain stores or the day you receive your paycheck you spend a lot of money in certain activities identify your employers right now number sort and prioritize your expenses the needs are food water basic housing simple transport and functional clothing everything else are wishes.
Classify your expenses into two categories, needs and wants cut out all the unnecessary elements this could mean cable subscription smartphones high speed internet and a lot of other luxuries that you may not really need.