Starting with Seven in 2011- Debt Reduction
Starting with Seven in 2011 is a Series
that brings green living into your home life or personal life. This series will give you choices to help bring about change, maybe even help you come up with some ideas of your own, which we would love to hear! You will see some ideas that you are familiar with but didn’t know where to start. My idea is to leap in right where you are. Green living is not about perfection. It’s about finding natural common sense solutions to everyday situations.
This week Jan. 10th… Starting with Seven in 2011
Seven Ways To Get Out Of Debt
- consolidate all credit card debt and pay one payment a month
- use cash for all purchases
- look at all debt interest rates, call credit companies and see if they will reduce rate
- look at creative ways to "find" money in your budget, eg: carpool 2x a week save gas money
- cook meals in crockpot for dinner while you are at work and brown bag your lunch
- get rid of extra "stuff" around your house by putting them up for sale on ebay or amazon.com, put your earnings toward debt reduction
- take on a small part time job and put that weekly amount to debt reduction
Getting out of debt can be nerve racking. Write down a list of your credit card debts, medical bills, car bills, etc…Then put down the minimum amount you pay a month. Now look for ways to add small or large extra amounts to the card that has the largest interest rate. Most credit card debts have an automatic debt reduction calculator on their website. You can go in and put the amount of money you want to pay each month and the calculator will tell you how long it should take to clear that debt.
As soon as you pay off that debt roll over the money onto the next largest interest rate debt. Be patient with yourself getting into debt didn’t happen overnight so getting out of debt won’t happen overnight. There are many other additions to this philosophy of reducing debt.
Some are common sense, shop the grocery circulars . Make up a menu for the week and stick with it. Go to the store only once a aweek. The main thing is to not get discouraged and if you fall off the horse today get back on tomorrow morning. The side effect’s of being debt free are peace of mind, a greener lifestyle with less stuff to purchase. That turns into green cash to save with more free time for yourself and family. Less headaches!
My ideas are in no way a substitute for a professional Doctor, Accountant, or Lawyer. They are my ideas on how to bring more green living in your life. Please seek a professional when needed.