6 tips to help you get out of debt

Many people still think that debt is normal and people don't have to fall into such a situation until they realize they owe a huge amount of money without any way to free up "debt department." "This. Most of us, especially young people, become "debtors" just because of that immature attitude.

Fear of debt is a good thing and it is important that you control your spending habits. Everything will happen very quickly and before you realize you're wasting too much money, you've been in debt ever since you didn't know it. If you still haven't formed a right mindset about making money - spending money - saving now, you should do it right before it's too late. It is time to change.

Here are 6 extremely helpful tips to help you get out of debt and act soon.

1. Develop a plan

If you're in debt, the first thing you need to do is sit down and look at all the numbers. See how much you spent, where, how much you saved and start planning based on those numbers. Once you have a plan, even if you just look at the budget, you can tell which items you should reduce.

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Who knows what you have done to make the money earned without wings? Perhaps, you have "subscribed" to something and left it aside for months, quarterly, and service providers to deduct money from your account regularly. Since you no longer find it useful, you don't pay attention and this carelessness makes you now "stuck" in debt!

The advice is that if there is any unnecessary expense, cut it down and calculate how much you will save each month to settle other debts.

Once you've made a plan, make sure you stick to what you've set up and never neglect. Because one of the most important factors if you want to get rid of that debt is never lose motivation and feel depressed. Certainly, if every month has achieved small achievements such as saving an amount or spending less than the previous month, it will also be a lever to help you better manage your finances in the future.

2. Pay high interest debts first

If you use a credit card or get into a debt with high interest rates, you should find a way to pay them first. High interest over time will make the amount you pay more (in addition to the original) increase very quickly and the more you wait, the more money you will lose. So, handle it as soon as possible.

3. Cooking food instead of eating out

Depending on the scale of "debt bureaucracy" that you can adopt corresponding spending reduction strategies and cooking at home instead of eating out is also one of the most effective ways. This does not mean you do not eat or "eat" poor quality foods. On the contrary, limiting to eating out will help you not be attracted by toxic, strange and expensive dishes. Moreover, you will easily control your diet, choose safer food and practice your cooking skills.

Choose simple ingredients, lots of greens and seeds. In addition, it is best to prepare food to cook instead of buying cut, sliced, . ready-made ingredients.

4. Find a part-time job

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Besides saving money, finding a way to increase your income is also a strategy that cannot be taken lightly because of the extremely harsh period of debt. At this time, if you owe too much money and need to pay early, you can think of finding a part-time job besides the main job, such as evening teaching, online teaching, newspaper writing, translation, and looks. young or delivery .

Anything as long as they make sense to you, especially if you get a job at a restaurant, you can get food home for free and don't worry too much about what to eat. daily.

5. Sell items you no longer need

Another way to help you quickly get more money is to sell unused items. Despite knowing this way, many people still retain the old ones because they think they will be useful in the future.

Now, when you are in debt, it is better to sell them to those who need it and use the proceeds to pay off the debt.

In addition to offering to the market, thanks to the seller, you can also take photos and advertise products online to find buyers. Although it may seem complicated, if the furniture is still in good use, someone will contact you soon.

6. Return to live with parents

It may sound odd but if still single, returning to live with your parents during this time is a good solution to help you cut a lot of costs, from rent, electricity, water to birth. daily activities .

One thing that is not very interesting is that you may have to listen to your parents' lectures on "financial management", how to spend money or save money, but no problem because these are the right lessons you need to understand. OK.

Try to apply the above advice and I guarantee that you will not regret it. As I mentioned earlier, this is not a game and no matter how much you owe money, there will always be a way to pay them all. The important thing here is to try to work hard and be responsible for each of your actions. Don't think about borrowing money to pay off a debt because it's a loop that doesn't end, not to mention the interest payments also make you feel worse.