Those who have debt problems are in debt because they have yet to learn how to live their life without the use of credit. For them, credit is like a crutch they think they need to walk. Society everywhere has been telling them that they need a crutch. But they can walk fine without it if only they tried. Here is a blueprint you can use to begin to learn to live without credit and get yourself out of the tight grip of debt.
In the old days people did not need credit. There was no system in place to handle credit, debt and repayment. So how did people manage back them? Well, they (wait for it…) actually waited until they had enough money to get what they wanted. Gasp! You mean self restraint? Yes. Saving for what you want to buy seems to be a lost idea in America. Unfortunately, our society has evolved into a pool of self-gratification where a person must have something right away.
Stop Adding To Your Debt
If you are already in a mountain of debt it is time to put a freeze on credit. You are probably going to have a difficult time paying for day to day expenses and bills because most of your income is going to your credit card payments. However, if you continue to charge more on your credit card you will never get out of debt.
Pay Down Your Debt
The way to pay down your credit card debt is to cut your spending and increase your income. To increase your income you can ask for a raise, work more hours or get a second job. Another way to increase your income is by selling unwanted items like a second automobile, having a yard sale and selling stuff on eBay.
Change Your Habits
Are you stuck with the habit of using your plastic card? Don’t despair because you can use your debit card from your bank instead. With these cards you can enjoy zero interest on all of your purchases. By getting out of the habit of using your credit card and instead using your debit card you will never fall into debt because you can only spend what you have in your checking account.