Getting out of debt can be difficult. Staying out of debt can be even more difficult, but you can do it. Here are four tips you can use:
• Stop getting any new credit. Make a conscious decision today that you’re not going to acquire any new debt at all. No car loans, no refinancing, no more credit cards, etc. None.
• Track your money. You need to know where your money is going. If you don’t, you could be spending a lot more than you think. It’s surprisingly easy to spend money.
• Create a payment system for your debt. You can use extra money that you have left over each month. Pick the smallest debt and pay it off. Then use that money plus the payment you normally make to pay on the next one.
• Continue that pattern forever. If you stop doing things that way, you can slip back into debt, and you don’t want that. Once you’ve got what works, stick with it.
