We live in a very consumerist world. We are surrounded by ads, by new products, by things telling us that we need things we don’t actually need. As an almost natural consequence of this, a lot of us are living in debt – and that’s a very bad place to be at, especially in times when economy doesn’t help people be very financially stable.
How to rid yourself of debt fast (and for good)? We have gathered some tips for you – so read on and find out more.
Get Better Deals
It may sound unbelievable, but most lenders are actually open to the idea of renegotiating contracts with their borrowers. The reason is simple: they would much rather sign up to a deal that’s better for their clients, rather than leaving their loans default and losing them as clients.
So take your debts, do the math and see how much you owe. See how much you pay now and what would be a better solution for you. Then, call your lenders and see if they are open to the idea of renegotiating the contract you have signed with them. It may actually work!
Save, Save, Save
You can’t pay your debts if you don’t save money – and thankfully, there are tens and even hundreds of small changes you can make in order to achieve that. The more you save, the more you will be able to pay on your debts – and the sooner you will be rid of them once and for all.
Save money on your grocery bill by using coupons, hunting for better offers and making grocery shopping lists. Save money on your energy bills by investing in appliances that are more eco-friendly and by practicing balance in everything you do. Save money by getting rid of all those extra-expenses that don’t mean anything to you (such as magazine subscriptions or making impulse buys).
Save money as much as you can. Live simpler – it may feel difficult at first, but as you grow into your new minimalist and frugal lifestyle, you will learn that the beauty in life doesn’t come with a new pair of shoes or a new videogame. It comes with the small pleasures – such as spending time with the ones you love. Happiness does not lie in your pocket. But misery can lie in the lack of anything in your pocket.
Set Realistic Goals…
…And actually stick to them. Again, it will be difficult at first, especially when you are used to a certain kind of lifestyle. But, as you learn how to live the frugal life and as you get closer to your goals, you will find that sticking to your plan is much easier than you thought it would be.
It does take perseverance and it does take compromise. But seeing yourself rid of all debt once and for all will be such an empowering feeling that it will make you truly believe in your own willpower!