You open your mailbox and there is: another letter stamped with red ink and marked ‘Final Notice’ on the front. You could shed countless tears and a lot of time tossing and turning in bed at night, questioning how things have gotten this bad. However, you know that it won’t do any good. So, just wipe away those tears, and let’s see what can be done about getting out of this hole we call debt.
Start Small, Think Big
First, you want to gather all of your bills, bank statements, and loans together. Sit down and really try to understand exactly how big of a project getting out of is really going to be for you. If you simply are having a bit of slow time at your work, or some temporary, unexpected expense, for example something medical has happened to you or a family member, think about what you can give up short term until you have a chance to catch up.
You might, for example, start by packing your own lunch every day for work. Additionally, it might also be a good time to give up those candy bars, sodas, and chips that you enjoy on your breaks. You might also consider looking a little harder through the newspaper for coupons, special deals, and other money saving items.
If, again, your is not particularly large, you might simply cancel many of your premium services. After all, if it means getting out of debt, who really needs 178 channels of HBO? Or, a health club membership that you never really use anyway?
Do You Have with A Capital D?
Regrettably, getting out of monster often requires monster effort if you are to begin to getting out from under it. In reality, much of what can be done to help can actually cause you very little pain. It would be wise to pull the plug on things like cable TV. Cannot live without your TV? Go to your local library and rent a movie, or better yet, borrow a book. Cancel your long distance service. Simply buy phone cards for your long distance needs and use what you can actually afford.
When you shop, you should always try to stay with what is on your list. Try planning your meals and menus around what is on sale. It won’t hurt you or your family to eat the same thing a couple of nights a week until things get better for you financially. Besides, things like fruits, nuts and other foods are far healthier than the bowl full of ice cream you are accustomed to having around!
Additionally, and for goodness sakes, buy generic foods. They are often of comparable quality at a fraction of the cost, and with every bite you take you will be on the road to getting out of debt. If you are worried about the stigma of eating generic white-boxed foods, simply use one of the old name brand boxes and put the new bag of generic food inside. None of these cutbacks are particularly the end of the world if you can begin getting out of and can see the light.
Finally, do not think of your as unconquerable. If you do, then remember the ancient Japanese proverb that asks a man how he would ever hope to move Mt. Fuji. The reply from the man: ‘shovelful by shovelful’. You can and will succeed in getting out of if you try hard enough.
