Stress developed from high levels of credit card debt, loans and other high interest programs are most likely the biggest cause of stress in America today. With so many people losing jobs and others constantly worrying about losing theirs, stress is at an all-time high. Just trying to make ends meet and living from paycheck to paycheck adds to that stress and can bring even the strongest people to their knees. The key to getting your best life back on track is getting rid of that nasty debt, and the good news is that there is a way out of this situation and it may be just around the corner.
The first step to taking control of your debt is realizing that debt never takes care of itself. In fact, it will grow like a snowball rolling down a hill, getting bigger and bigger, faster and faster. In order to take control of the debt, you must act quickly so that it does not have the chance to grow. Many times, people are able to pay off their credit cards on their own, but in other situations, it is necessary to work with a debt settlement company that understands your situation and can work with the credit card companies to reduce the amounts owed. A quick phone call can determine which option is best, but that can be the most difficult step of all. Credit Advisors can quickly let you know whether or not your situation is a fit for debt resolution, and if it is not, we can give you alternative ideas to explore and possibly refer you to some of the best experts in your area. But if you don’t call or let us call you, we can’t help.
In order to combat your debt and get rid of it as quickly as possible, there are many ways to help build up or save money and pay debt down at the same time.
Develop a Strategy to Attack Your Debt
In order to get in control of your debt, you must develop a plan of attack, and once you have that plan, make sure to follow it. Most people we talk to have come up with creative ways to pay off their bills for a short amount of time but quickly give up and let the debt take over their life again. Don’t abandon your plan. Stick to it and you’ll see results faster than you think.
Get on a budget immediately! If you aren’t on one, please get on one right away. We know that budget sounds like a bad word and that it takes quite a bit of planning and effort, but it is the absolute best way to get rid of stress and a significant amount of debt in a short amount of time. People who live on a budget control their money instead of letting their money control them. With the internet at your disposal, there are thousands and thousands of articles for you to read and learn about debt, many of which we’ve read through and utilized in our Knowledge Center. There are also tons of books to go through, written by both popular and less known financial advisors and gurus. Watch an episode of Suze Orman and try to pick up a couple of tips that apply to you.
A Couple Ways to Reduce Financial Stress in Your Life
Get creative and come up with some of your own ways to save some cash and set it aside. You know your situation better than anyone and care about taking steps toward your best life more than anyone else in the world. Here are a few ideas that you might be able to take advantage of and start on the road to financial freedom. Also, read over these and see if you can come up with some ideas of your own – if so, let us know so we can pass the idea on to others.
- Go through your house and get rid of clutter that you don’t use or need. Then turn around and sell it on eBay, Craigslist or maybe have a yard sale.
- If you are good with crafts or like making jewelry, give a shot at selling it on eBay or Etsy.
- Turn you passion into a blog and try to get some ad revenue.
- If you’re talented with a guitar, try offering some lessons. Used to be a great soccer player, try to find a local team that needs a trainer.
- If you love golfing or skiing, try getting a second job at a mountain resort or golf club. You will not only get paid for doing something you like, but you’ll probably get free passes or tee times in the process.
Get a second job working a few hours here and there, and then use that money to pay of credit card debt.