Too much debt? In today’s world of cheap and easy credit, many people end up with too much debt. If you’re facing crushing debt, you’re not alone. And there are ways out of debt.
7 ways to deal with too much debt
- Stop spending. Put your credit cards away. Pay in cash until you’ve got things under control.
- Do up a budget. Figure out where you’re money goes each month. Determine how much you can afford to spend and stick to your plan.
- Pay down your highest interest debts first and make the minimum payments on other loans.
- Find extra money to pay down debts, so that you can reset your situation
- Consider enlisting the help of a debt counselor
- Talk to your lenders about your situation. See if you can get a debt consolidation loan, if it’s right for you.
- Get a second job
You can find your way out of debt. Once you take control of your debt, you’ll take charge of your life.