Debt is the #1 destroyer for most of us in the financial area of our lives. I have learned the hard way myself and it has taken me a lot longer than expected to pay off my credit card and loans. So I researched a handful of tips to help me beat this debt for good and I have compiled a number of great pointers that I know will help you guys out there in struggle town also. Debt is a Vice, so read on & kick debt in the face!

TIP #1

Pay off the most expensive debt first so what you save in interest can instead go towards your deposit in the future.

TIP #2

Stop taking on more personal debt; cut up all credit cards or impose a strict limit.

TIP #3

Sell unwanted assets to raise extra repayment funds.

TIP #4

Make regular extra payments as often as possible to reduce the balance quicker.

TIP #5

Ask for a pay rise or take on a second job and put the proceeds towards your debt.

TIP #6

Limit your spending to necessities and avoid splurging on mere wants.

TIP #7

Look for areas in your budget where you might be able to cut back to generate extra savings.

TIP #8

Increase your monthly repayments by asking your lender to cut down your loan term.

TIP #9

Put your Credit Card in a glass full of water, put the glass in the freezer. When you feel like using your credit card for online purchases or taking it with you to the shops you will have to take it out of the freezer and wait for it to melt, by the time it melts you would have thought long and hard enough about using your credit card for a purchase and you will put it back. Doesn’t work for everyone but has been handy in the past for many bad spenders.

TIP #10

Pay cash when you buy as it will make you more accountable for your actions than credit.