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Once your monthly spending is under control, you can think about
some ways to make debt a thing of the past. Here's a list of ideas.
- Each
month, try to reduce a different spending category by
5 to 10%.
-
Start a savings account for large, infrequent expenses
so they won't upset your budget.
-
Give thought to the credit terms of your large purchases.
-
Treat a credit card balance like you'd treat a bank loan
for the same amount.
-
Always track your spending and income to make sure you
don't get into debt again.
-
Try to increase your income. Can you improve your salary?
Is a second job possible? Can you sell something you no
longer need?
-
Reward yourself. Working your way out of debt is a long,
hard task. It's also a big accomplishment. Find inexpensive
ways to celebrate your progress.
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