How to get out of debt without going insane


Every day millions of men and women are left asking the question “how can I get out of debt?” or “will I ever to be able to get out of debt?” Well, it is certainly possible to get out of debt, but the overwhelming majority of men and women either look down the wrong roads or just feel hopeless. That has left the average U.S household accumulating $49,042 in student loans, $16,061 in credit card debt, $28,535 in auto loans, and nearly $200,000 in mortgages. The truth of the matter is that several strategies will get you out of debt. So let’s begin.

Look For Ways To Spend Less – Live Within Your Means

The first step to getting out of debt that is somehow overlooked by tens of million of men and women is a relatively simple process that seems to take some people back to elementary school. You make “x” amount of money and spend “y” amount of money. Make sure that x is greater than y at all times or in other words ensure that you are spending less than the amount of money you receive from your paycheck. The logical response is to think “How do I do that?” Well, many people would respond with a long drawn out response, but the best response is to follow the step-by-step process below:

  1. Figure out your income as well as your expenses.
  2. Separate what is “needed” and what is “wanted.” For example, food, water, electricity, and water would be needs while TV, unlimited phone service, and a brand new car would be purely wanted.
  3. Track every cent you spend. Record every penny you spend and always double check the numbers you record.
  4. Form a so-called “rainy day fund.” So, in other words, the remaining money that is left after you pay for all the necessities should be put into savings in case there is a medical emergency or a legitimate and unpredictable tragedy.

Get a Raise

Once you have followed the previously mentioned steps, you will undoubtedly have a grasp on your debt as well as your day-to-day expenses. However, you will likely be in a hurry to get rid of all of your debt and begin paying more attention to the things you want such as the new car that was mentioned. That may sound complicated, but it really boils down to the following concepts:

  1. Know what your boss wants. First, think about what your boss wants or what makes them happy. Secondly, take the initiative and plan how you are going to achieve that goal. Remember, make the goal realistic and action based. Finally, get to work.
  2. Exude a positive attitude: You may hate going to work, and your life may be a complete mess, but when you are at work block everything out and pretend as if you are so delighted to be where you are. This will psychologically send a message to everyone at work that you are a good person, a hard worker, and an optimist, which eventually leads to the boss rewarding your so-called “standout attitude.”
  3. Over-deliver: When doing any work-oriented task make sure that you do never cut corners. Additionally, always try your best to deliver more than what was demanded. Everyone appreciates a reliable person, but the world cherishes an individual that supersedes their expectations.

Consider Consolidation – Get An Even Tighter Grip On That Debt:

After following all of the mentioned steps you should understand what is being spent, what is needed, and the technique to accumulate more money at your job. Understanding all that signifies that you have your priorities straight and are ready to get out of debt. The only problem is that you are more than likely in the same boat as everyone else, which means you are looking at an overwhelmingly high number and interest charges that are accumulating more debt on a daily basis. This is indeed a sticky situation that can be dealt with through the consolidation process.

At first, the word “consolidation” may sound scary or complicated, but it saves you money in the long run because your debt is broken down into a monthly payment that is controlled by you and those crippling interest charges are for the most part no longer a problem. The most important aspect of this process is making sure your required payment is feasible and can be met when the time comes. For more tips on debt consolidation, you may need to read this comprehensive guide.

Make Extra Money On The Side & Keep Your Head Held High

Remember, getting rid of your debt is contingent upon how much work you put in and how bad you want to get out of debt. So make sure you do not simply give up after the consolidation process or be discouraged by the so-called “drip, drip” nature of getting rid of your debt.

Once you have a firm grip on that debt, you can begin working even harder and putting forth more money toward your debt. This can be accomplished by shopping in fewer luxurious places such as yard sales or bargain-oriented places. You can even have your own yard sale or sign up for a simple survey service where you are paid for your opinion.

You may also want to explore options to make money online, such as by taking surveys. If paid surveys are a new concept for you, I recommending learning more and doing some surveys.

Above all make sure you are not getting discouraged and valuing your time every minute of every day.