Best way to clear or substantially cut your debts

armouredbeast

Here is what is working well for me so far..




1 Get all your debts together and write all the interests and minumum payments on a personal debt A7 notebook so you are always aware of your debts! They key is that you have a clear overview of where your debts are and the interest charged on them. This will stop you from losing track in a debt pile!

2 Look for balance transfer offers on your exisiting credit cards and new cards to consolidate your high interest credit card debts (It makes life so much easier if you have all your debt in 1 or 2 places rather than on 4 or 5 different cards which will stress you out even more!)

3. Cut down on uncessary spending by creating a BUDGET on a spreadsheet and stick to them religiously.
4. SWITCH TO PAYING IN CASH ( stops you from overspending on cards)

5. Take PUBLIC TRANSPORT, CYCLE or walk (if feasible) to work! ( Ask if your company is part of the cycle 2 work scheme)

6. TAKE LUNCH BOXES TO WORK