Don’t let your debt get the best of you

21
August

Have you had that feeling yet where you do not think you are ever going to be out of debt? Many people have felt this way, and most of them are going to do nothing about it. However, you would never be so foolish as to assume that you could just ignore your debt forever would you? Of course not!

Step one to fixing your debt is to stop spending like you were Donald Trump. Yes, it does sound like a cliche and easy thing to say about fixing debt, but that is because it happens to be true. Those who spend more than they need to on things they don’t really need end up in deeper problems with debt. You probably think that most of your spending is essentially, but are you really judging yourself fairly? How about that last time when you felt very tired after work and just stopped to pick up some fast food? That will cost you far more than you would think over time. Do not trick yourself into thinking your spending habits are perfect.

The second most important thing to do after stopping the massive amount of unneeded spending that you have is to create a strict budget. This needs to be a budget that you can realistically stick to, but also one that will trim the amount you are spending on things that you don’t need to spend on. The budget should break everything down in categories in order to show you more easily where all of that money is going.

Before you can start to craft the budget, you will want to get your bank records from the last six months of so. Don’t worry, you do not have to dig up every check or other payment slip that you have used in the last six months. Rather, you can just go online to the website of your particular bank and start looking up your information in this way. All of the major banks (and most smaller ones) allow their customers to view their balance and perform a variety of other banking tasks online. One thing that customers are allowed to do is view their statements for at least the last few months, and most extend that to a year or more. It should not be that difficult to find records from the last six months at most banks. Once you have pulled them up, print them out so you can look over them. This will give you a more accurate picture of where all of that money is going so you can craft a budget around this.

There is no quick way to deal with debt issues. Anyone that tells you this is probably trying to sell you something. The truth of the matter is that dealing with debt is very difficult and troublesome. Getting rid of it as soon as possible is something that everyone should want, but this can only be done through a slow and thought out process. Be prepared to make sacrifices and cutbacks in comparison to what you are used to doing. This is the only true way to start making the improvements that you need to be making.

This post was written by

jason – who has written posts on Budget Clowns.
Father of three and married to a lovely women. Always looking for ways to save money, and invest it properly for my children's future.

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