The Top Four Debt Solutions

Debt Relief Tips

If you have reached the point where you have had it up to here with your debt, concentrate now on the debt solutions that are within you capabilities. Before you know it you will be making a significant dent in your debt.

1. Spend Less

One sure way to retire your debt is to spend less money, and apply the money you save to your existing debt. At first you might think this will not generate enough savings to be a serious debt solution, but it all depends on how much you are willing to sacrifice to get yourself out of debt.

2. Eat at Home

One of the relatively easy and even healthy methods of debt solutions is to reduce the amount of money you spend on restaurant food or take outs. Home cooked dinners not only are less expensive, they are in most instances a lot healthier than any fast food meal.

Limit your coffee to one cup or two cups a day at home, and skip the espresso or latte. If you don't feel like you can give it all up at once, start by skipping it one day at a time. If you miss the caffeine, learn to like diet soda, which you can buy in bulk and drink for considerably less than one dollar per serving.

3. Keep Small Change

Small change adds up, and most banks today offer a plan where you can round all your credit and debit card purchases up to the nearest dollar and deposit the difference in a savings account. Once a month, transfer the funds from savings to checking and use it to pay off your debt. This debt solution is a painless one you may never notice.

4. Sell a Car

Plan and simple, cars are expensive in many ways. Gas prices are soaring with little evidence of it backing down anytime soon. The cost of insurance goes up every year, even if you never have to make an accident claim. If you happen to have a two or more car household, then a debt solution method you can try is to adjust your schedule or even lifestyle to be able to live with just one car. This solution can quickly make a huge difference in your expenditure, since you will save a lot of money each month on gas bills,car payments, maintenance costs and insurance payments.

No matter which of the debt solutions you choose to take advantage of, the important part of any debt reducing plan is to ensure that you save money to be able to pay down your debts. Make a pledge to yourself to make use of any windfalls that you may receive from now on to pay up on your debt. Check every annual bonus, tax refund or any other windfall you receive that may be used against your debt.