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Cruse and Associates: Get out of Debt Now!

By Mikel Cruse Subscribe to RSS | June 6th 2012 | Views:

If you have found yourself counting and counting the amounts listed on your non-stop paper folds, and still thinking how you’re going to cut this long list of yours, instead, just take a few minutes to search for a rescuer.

Some of these tips may seem obvious in which you can easily take and can put into a solution in getting out of your debt. If you think you are alone in having this kind of setback, then you are wrong, and it’s normal. However, if you notice that you are already at the highest level of this overflowing debt, it may now consider as atypical. Don’t panic! It can still be imbibed by the following tips.

Make your reservation realistic

The first thing you have to do is take stock of your debt. Most people, fail at this stumbling block for the reason that they lie to themselves about the expenditure. At this point, you should be very realistic. You should make a list of your family home needs and take off or lessen the wants. Yes, it is very crucial. There are times that you are more perceptible to your wants instead of needs. If you really cannot face the breakdown of your expenses then get someone you know to help you.

The very obvious first step is to have a budget plan towards overcoming your financial situation. Putting this into practice is not just a mental note but a written exercise taking a long, cold, hard and truthful look at your quandary.

It may sound a very obvious statement to make but the first step toward taking control of your financial situation, is to do a realistic measurement of how much money you earn and how much money you spend. The effective word here being “realistic.”

It may not be pleasant to be so forthright about your own circumstances but if you choose to ignore certain aspects then you are just deceiving yourself and the whole exercise would become a complete waste of your time.

Reflect on these questions:

1. How many credit cards or debit cards do you have?

Try to cut down the number of your credit cards and make a monthly expenditure budget. Make your budget balanced where can be seen the statement of “no more, no less.” The less of the temptation of too much spending, if you reduce your credit cards or debit cards.

2. How many times a week do you go out?

Do you really need to go out clubbing every night of the week? Why not reduce the number of nights out from seven to two or three. You may be agreeably surprised to find that you can live quite well without going out every night.

3. How much do you spend on cigarettes and drink?

Try to lessen the amount of cigarette you smoke and liquor you drink. This is not only for the sake of your finances but most importantly for the sake of your health.

4. Do you really need more clothes?

This is a difficult question to answer as we all have different views on style, clothing and fashion. Nevertheless, you need to assess your own circumstances and decide whether that particular item of clothing is absolutely necessary or not. In most cases you will find that it is not as critical as you first thought.

5. Will the car not last another year?

Why change the car now. Will it not last for another year? If you must have a new car this year, does it have to be the top of the range model? You will be pleasantly surprised at how much you can save by not having a few of the latest gadgets added.

Your Weekly Shopping

Always ask yourself if you really need to go shopping. Panic buying is the most common word in supermarkets, especially if your wallet is blasted with money. Make sure that you have also the shopping list in your pocket to refrain from putting the wants in your shopping cart rather than your needs. And well as try to buy less and buy fresh.

Always bear in mind upon struggling that there is no magic wand as far as recovering from debt is concerned, it takes time and much effort but it will be worth it after all.

Mikel Cruse - About Author:
If you have been planning to buy your dream home for very long and you are unable to do that because of the rising prices everywhere, Cruse and Associates are here to help you.

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