Debt is something that’s hard to get off your mind. From getting the mail from your mail box and seeing those incoming bills to going to the grocery store and hoping you can stay on budget. But even if you’re working on paying off as much debt as possible, you still need to breathe. Here’s some things to think about if you’re overwhelmed with debt.
Start a spending freeze – this is one thing you can have control over and a great way to save even more money. Try just one week. Then when you’ve mastered that move it to 2 weeks or even a month. You’ll give yourself some breathing room if you give it a go.
Contact your creditors – keep your creditors informed, don’t ignore their calls or better yet, give them a call. Many companies and creditors have programs to help people like you and me when we’re in a tight spot. From getting a month off, to lowering your interest rate, reduce or no fees and more. But you won’t know if you don’t pick up the phone and call.
Figure out what you can live without – maybe that morning run to Starbucks or swig needs to be put on hold. Or decide to give up your cable to save each month. Stop buying junk food and paying for that monthly gym membership. There are tons of things you can stop buying and paying for until your debt is paid off. It will take sacrifice but I know it’s possible and you can do it.
Keep track of your spending – it may sound like a big task but just the simple act of writing down everything you spend your money on, will help you recognize where your money is going and think twice before you swipe your card.