How You Can Be Debt Free

How You Can Be Debt Free

If you are drowning in debt and cannot pay your bills, you need a debt reduction strategy right away. Getting rid of your debt will not only make you feel better about your financial situation, but it will make your life a lot less stressful. Here are some ways in which you can get your debt under control and stop all those collection calls. Being debt free is an amazing experience, but the journey is a long one so you have to be prepared to handle it.


The first step to debt relief is to make a budget. Budgeting allows you to have control over your finances and it makes sure that you have a plan for whatever path to being free of debt you choose. With a budget you’ll ensure that you won’t fall deeper into debt.

Credit cards

What about credit cards? Paying down your credit cards is a little tougher than paying down other bills because the interest rate is usually higher. The key here is to be aggressive with paying down your credit cards because it will cost less to carry a smaller credit balance.

Interest rates

Another tip when it comes to credit card debt relief is to find the lowest interest rate possible. Transfer your balance to another card if you can do it for free. Talk to your credit card company as well and see what deals they can offer for making a certain number of payments in a row. As your credit balance lowers, you credit score will rise, making it easier to get lower rates as time goes by.

Get ahead

Make multiple payments if you can. When you make an extra payment, it means that you are ahead of the game. Either you are going to pay less in interest in the future, or you are going to be able to not worry about a payment in case something else comes up.

Supplemental income

A good way to make extra payments and get ahead of your debt is to generate more revenue. Easier said than done, I know. You could get a second job, work more hours or find ways to make money in your spare time (if you have any). You could mow lawns, babysit or offer tutoring. Be creative as there are endless opportunities.

Getting rid of your debt will take effort and determination, but it can be done. Pay off your high interest credit cards to get out of credit debt and the rest will follow. Don’t be afraid to get credit card debt help if you need it, but just make sure to use a reputable debt relief agency. To do this on your own, good budgeting and financial planning will be key, so make a plan and stick to it. You will be glad that you did.

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