I am one of the people who graduated college with heavy loans for college tuition. After I graduated I didn’t look for a job for 8 months and living off the credit cards I had. My life was easy and beautiful until I maxed out all my credit cards and my loan was due. After starting a job I started to pay my loans but my debts were never seemed to get smaller. It was getting even bigger and bigger because I started to have more bills and I continued my bad spending habits. After 6 years finally I am spending less and my debt is getting smaller slowly but as I planned. I hope this tips help people like me and starting to live life free from debt.
First of all it’s important to admit and acknowledge that you have a problem with debt. You have your debt because you spend money you don’t have.
Stop making it worse than now. Stop buying any non essential stuff. Do not use your credit card.
Try to cut back on things you normally buy and start to save for Emergency Fund.
You need to know what you owe to make spending plan in order to control your spending.
Your spending allowance should be left over after you save your Emergency Fund and pay your debts and monthly payment.
Once you save your Emergency Fund put that extra money to pay your debt.
If your income is not enough to cover your spending find a way to save more or fine a way to raise your income.
Don’t expect something will happen and you are going to have a debt free life when you are spending as now. Change from inside of you is most important.