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When we find ourselves in debt, sometimes we start thinking about how to get out of it. And one of the things that we wonder is how quickly we can wipe out of debt. Because surely, since we got ourselves into this so quick we can get out of debt just as quick, right? That’s when people might start contemplating a get out of debt loan. Or, if you want to get out of debt yourself, you can begin by creating a get out of debt budget. Today, let’s talk about getting out of debt now so we can set the stage for future financial success.

Often when we find ourselves in debt, we wonder how quickly we can get out of it. Today, I want to share some tips on how to start getting out of debt so we can take steps towards a better financial future.

One of the first steps to take, after we get our budget plan together, is to implement that budget plan. That usually means cutting down on expenses, which might not seem like the most appealing thing in the world. But, believe me, it will be worth it in the long run.

Getting Out of Debt By Cutting Expenses

* Get rid of unnecessary expenditures.

For example, do you really need the newspaper? Can you go online and read the news or watch it on TV instead?

Do you have a landline and a cell phone bill? Have you considered getting rid of your landline and ways to save on your cell phone bill?

* Cut back on existing packages.

Cable TV is a budget buster. You might spend hundreds of dollars getting tons of movie channels and special packages for sports and entertainment. And chances are, if you’re like me, you’ll end up scrolling through all of these channels and saying to yourself “there’s nothing on tv.” Start tracking which channels that you really watch.

Cut back to a basic plan. If you need to, invest in a Netflix account for much less than you would a cable TV package.

[Tweet “Looking to cut back on expenses? Try @NetflixTV instead of cable.”]

If you can bundle things to save money, do it. For example, you might have your phone, cable TV and Internet service all with different companies. You can save money by bundling it with one provider. Just be wary of initial offers. Sometimes the fine print will reveal that you will be paying a much higher rate when your introductory period (of one year usually) is over.

* Save on electricity and water.

Make sure you (and everyone in your family) understands the importance of shutting off lights and conserving electricity for your monthly bills. Same with water usage – don’t let the water run while brushing your teeth, and don’t do small loads of dishes and laundry – wait until you have a full load.

* Quit eating out.

Eating out at restaurants doesn’t help you stick to a budget. It might help you save time stopping by for fast food, but it can wreak havoc on your pocketbook and monthly budget. Likewise, the convenience of fast food will add up quickly.

* See who is charging you more.

If you have credit cards that are charging you annual fees, you can request that those be waived. Otherwise, you might want to shop elsewhere for a different line of credit with no fee.

You also want to check things like your bank accounts to see if they’re charging you a monthly fee for using their service. There are some banks that will do away with this charge to keep you as a customer.

* Make a meal plan.

People who shop without a list tend to spend more than people who make a weekly meal plan and budget for their families. Shop based on whatever coupons your local store is offering in the weekly paper.

Make sure you pack lunches instead of eating out at work. As Dave Ramsey says, you can live on beans and rice while you’re paying off your debt if you’re serious about it.

* Look for cheaper forms of entertainment.

Don’t have an official date night out every weekend where you’re shelling out for an expensive dinner and a movie. Instead, invite other couples over and have game night at your house with snacks and wine!

Once you have seen how you can spend less, look at how you can earn more!

Whether you get a second job, host garage sales, sign up for programs where you host parties and earn money, or make money working from home online – you can put all that extra dough toward your old debt.

[Tweet “Start getting out of debt now with these helpful tips from @just_anothermom”]

So is it really that easy to start getting out of debt now? Yes. If you put your mind to it and create a financial plan, you can start reducing your debt today.

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Digital Product Creator at Kori at Home
Kori is a late diagnosed autistic/ADHD mom. She is currently located in Albany, NY where she is raising a neurodiverse family. Her older daughter is non-speaking autistic (and also has ADHD and Anxiety) and her youngest daughter is HSP/Gifted. A blogger, podcaster, writer, product creator, and coach; Kori shares autism family life- the highs, lows, messy, and real. Kori brings her own life experiences as an autistic woman combined with her adventures in momming to bring you the day-to-day of her life at home. Kori is on a mission to empower moms of autistic children to make informed parenting decisions with confidence and conviction.

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