In the twenty-first century, being in debt is widely accepted as a part of life. As a student myself, I’m facing the beginning of my life with my net worth in the negatives, and it’s incredibly daunting. My parents are years away from retirement; throwing themselves into their work as they try to battle debts they never anticipated having. It’s an overwhelming, stressful struggle, and a cross I believe all of us have to bear and some point or another. While debt can feel crippling, as it did for me, it isn’t the big bad life ruiner it’s believed to be. There are ways to eliminate your credit card debt.
As much as we all wish for the ability to wave a wand and watch our debt disappear, it unfortunately is not that easy. Nothing ever is. But it can be done, and my goal today is to give you a few options to help you eliminate your debt in the most painless way possible. Sorry to say, it may involve a little sacrifice of some of the finer luxuries in life, but lucky for us we live in a world full of loopholes and backups. There’s five of everything, each with it’s own unique price tag. A little trimming of your budget here, a switch-a-roo there, and your debt should shrink before your eyes.
Money Savers Hiding Right Under Your Nose
There are twenty-four hours in a day. Minus eight hours for a full nights sleep, and two or three hours of ‘down time’, and you are left with thirteen prime time, money making hours. Taking on a second job, even if it’s part time, can be surprisingly helpful when it comes to lifting that stress off your shoulders. Yes, I am well aware of how intimidating the idea can be; it’s not as difficult nor as challenging as it once was. With the vast reach of the Internet shrinking the world mile by mile, job opportunities and openings have become more globally accessible. It is now possible for a mom to make money from her kitchen table, virtually assisting a fortune five hundred company from the other side of the country. A tech savvy college kid with a looming five-digit debt ahead can shave off a few zeros offering tech support from the comfort of his dorm room. So set those fingers loose on that Google search bar; those seemingly simple skills you posses can be put to good use!
The other benefit of the extensive reach of the Internet is its amazing capability to bring people together. Countless websites have been created to re-unite family members, spread knowledge an information amongst peers, and (most importantly in this scenario) connect buyers to products up for sale. Majority of us are used to surfing the web from the buyers perspective, but put on your salesman suit, and have a look around you. How many objects stick out to you? How about all the stuff you’ve boxed up and stashed in storage? When was the last time you riffled through your attic? Your garage? Those hidden gems you’ve tucked away could put a serious dent in you debt.
Budgeting Tips And Tricks
As I previously mentioned, there are many areas of our lives that suck the money right out of our wallets. That’s money that could be put to use eliminating your debt! And in this modern era, everything is a marketing campaign, so it becomes a battle of wills. Here’s your secret weapon: budgeting. Budgeting on the surface is incredibly deceiving; it appears to be simple – common sense, right? But when one sits down and seriously tries to budget, it can be trickier then expected. Let’s see if we can’t simplify the subject.
- Though we all love a fun night out, try bringing that five star meal home. Save yourself hundreds of dollars by buying a book full of delicious dishes, and becoming the chef.
- Direct T.V, Xfinity, and all their brothers and sisters have slowly but surely become obsolete with the rise of sites such as netflix, amazon video, and hulu. For a fraction of the price, you get all the shows you love and movies you crave before they hit the t.v screen.
- Cellphones take up a major chunk of our daily lives, but that doesn’t mean they have to take up a big chunk of our cash. There are plenty of plans out there that can offer you the same converge as a pricey company, but without the big price tag.
- Bills are big money grabbers, but believe it or not we can “budget” those too. Get in the habit or turning your lights off when you leave the room. Time your showers and see how many seconds you can shave of to save your water and shrink your bill.