Two Simple (Practical) Strategies To Get You Working on Your Debt. Debt Advice, Just Do It
In this day and age, with an uncertain
economy looming and debt advice at an all-time high, many consumers are worried
about continuing to carry debt. For some, they were already in over their heads
before the UK
economy took a turn for the worse. Some people may even be facing mortgagee
sales or bankruptcy. It’s scary, but there are ways to help yourself get your
debt under control now - and for the future.
Let’s start with brutal honesty. Make a
date with yourself to go over your debt. Eliminate any possible interference -
turn the computer off, turn the mobile off, make sure the kids are occupied,
and if you’re doing this with a spouse or partner, make sure they’re not going
to be otherwise occupied. You need to pull out all the bills, all the unopened
envelopes, the cheque book, the credit card statements, and so on. Get it all out
on the table.
Now that it’s all out on the table, start
going through it. Make a list of what you owe and to whom. If there are
percentage rates that accrue or any other fees that accrue for late payments,
etc., make note of that, as well. Once you have the complete picture, take a
deep breath. What you’re looking at is important. How does it feel? Are the
numbers in line with the life you want to lead?
If you’re filled with negative thoughts and
reactions when you see your debt in total, then it’s time to make a plan that
is more in line with who you want to be. Chances are, you’re not going to win
the lotto tomorrow (or ever!) and be able to wipe all your debt out with one
clean sweep. You’re going to have to do it the old-fashioned way - you’re going
to have to start working at it and not stop until it’s gone.
You’ve heard it before, but it’s time to
say it again: cut up those credit cards. If you really feel you need one for
emergencies, keep the one with the lowest percentage rate. If you think you’ll
easily be tempted to use it for non-emergencies, and then be proactive. Make
your card difficult to use, so you have to take time and think about it twice
if you actually want to use it. You can freeze your credit cards in ice.
Seriously. Fill half of a container with water and let it freeze. Then put your
credit card(s) in it and fill the rest with water.
With your credit cards frozen in a block of
ice, they’ll still be useable when thawed, but it’s going to take you some time
to get to them. Or, if you want to carry it with you, put it in an envelope or
other paper, fold the paper so that it completely covers the credit card, and
then wrap the whole thing with multiple layers of duct tape. If the time comes
that you need to get to it , you’ll be able to?with effort.
These two simple debt advice tips can and will make
an impact in how you fare in the future. Debt can happen to anyone. Learn from
it and do your best to keep it in check. There’s no sense digging you out of a
hole just to dig another! Just do it. Get debt advice now or use a locally
sourced trusted advisor.
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Tags: bankruptcy, brutal honesty, cheque book, clean sweep, consumers, credit card statements, credit cards, debt advice, deep breath, emergencies, envelopes, interference, late payments, mortgagee sales, negative thoughts, percentage rate, percentage rates, theyre, uk economy
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