Kill Your Debt – How do it painless

When you are deeply in debt, it can seem impossible to dig yourself out. But, just like eating an elephant, the trick is one bite at a time. By freeing up a little extra money, you can throw it at your debt and watch it melt away:

  • Make a pact with yourself to skip the coffee shop 3 days out of every 5. If you spend an average of $5 a day on specialty coffees, that’s $60 a month you can now apply to your debt.
  • Be honest: How long has it been since you went to the gym? Exercise at home instead, and you now have $20 to $40 a month free to dedicate to eliminating your debt.
  • Look over your cell phone bill. Are you paying for more than you use? Negotiate a lower rate with your carrier, then apply your savings to your debt.
  • eBay one item a week. Look around for anything that you have that you aren’t using. You would be shocked what sorts of things sell. For instance, cords from broken electronics that are useless to you can be exactly the part that someone else needs.

Whatever amounts you are able to save by cutting back, have those automatically applied to your bills each month. That way, other expenses don’t creep up and take away your savings.