It is possible to become in debt without realizing how bad it has got and how much you actually owe. It is difficult to keep up with all the equipment that children need and new clothes and shoes, even going out can end up on the credit card.
But it is possible to get out of debt and not have large bills coming in each month but you will need to be strong and focused it won’t be easy but you can find debt relief.
Understand how you got into debt
Look back at what you have spent the money on and try and work out why you are spending more money than you have coming in. Are you trying to give your children everything you didn’t have? Are you trying to keep up with the neighbors?
You need to address these issues and make a commitment that you can change, what lessons are you teaching your children about financial issues. Just because your neighbor has got a new car or goes on holiday, they might be able to afford it or they too might be in debt. Whatever has made you overspend as long as you are aware of them you can change you can find debt relief?
Organize your bills
By looking at the money your owe by writing it down, each item having a line dedicated to that debt and look how long it will take to pay off completely, it will really make you think about finding ways to clear your debt quicker so that you pay back less in the long term and find debt relief.
Set aside a night for planning
Get together with your partner don’t disagree just work out a plan on how you can both take back control of your finances and pay back the debts as quickly as possible finding debt relief. This will be easier if you haven’t got the children at home to distract you, maybe choose a night when they are at a friend’s house.
Allow for mad money
Mad money is where you have a set amount each week and that is your money to spend on what you like, no strings attached. It doesn’t have to be a lot of money just enough to give you a treat.
Develop and debt repayment program
Look at all the debts you owe and then draw up a plan in which you can afford to get them paid off. An option is to divide the total amount owed by forty eight and this is how much it will cost to be clear of debt in four years and find debt relief.
Once you are out of debt and even before stick to cash and avoid using cards, it is so easy to charge an expense to a card, so to stop doing this always use cash.
Create a celebration night
It is a good idea when you reach a goal to celebrate this achievement, maybe make a special meal. Whatever you decide to do just make sure you don’t create any more debt that you can’t afford.