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Miriam Caldwell

Do You Have a Plan to Get Out of Debt?

By January 6, 2013

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If you are serious about wanting to get out of debt, you need to set up a solid plan to make it happen. The first part of your plan should be a budget. you can write out a debt payment plan, but until you find the extra money to put towards debt and stop relying on your credit cards, you are not going to make any real progress on your debt. Once you have your budget set up, you need to layoout your plan. Choose the order you want to pay off your debts, and then start applying all of the extra money to the first debt on your list. Work your way down the list as you pay off each debt.

Writing out your budget, and writing down your plan is the easy part. The hard part is actually following through and making it happen. It's not always easy to stick to your budget or your long-term plan, but you can do it. You need to identify the things that get in your way each day and each week that may be hindering your success. If you know that eating out is killing your budget, but you are too tired to cook after work, try something new. Cook ahead on the weekends, or use a slow cooker and make dinner in the morning before you go to work. If you know that the time you spend the most money is on Saturdays when you go shopping, find a new activity that you enjoy doing instead of hitting the mall. These small changes are key to making the bigger changes you need to.

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