Complete Idiots Guide To Getting Out Of Debt

Educate Yourself
This may seem obvious, but a lot of people who find themselves in debt don’t actively seek out information on the issue. Go to the library or bookstore and find books on the subject. Look up budgets, debt, credit scores, and anything that relates to your situation.
Organize Your Bills
You need to know exactly how much debt you have gotten yourself into before you can make a plan on how you are going to fix it. Clearly lay out what your minimum payments are every month and who they are owed to.
Make a Budget and Stick to It
Once you have all of this figured out you can make a budget. Make sure you stick to this budget to keep from getting into further financial trouble.
Get Rid of High Interest
If you discover that you have extra money at the end of the month,pay extra on your debt. Pay off the credit with the highest interest rates first so that you aren’t wasting money on interest. This can save you a lot of money in the long run.
Cut Back on Spending
This won’t be fun, but cutting most of your spending is going to be required. You got yourself into a bad situation, and now you need to redirect your money to get yourself out of it.
Diversify Your Income
Now this may not mean going and getting another “job.” This could be something small and easy such as babysitting on the weekends. It may not seem like much, but even a couple hundred dollars extra a month can take debt out quickly. If you look online and in the newspaper you can probably find a lot of people who just need odd jobs done for a little cash.
By laying out some plans for getting out of debt and sticking to them you will start seeing progress quickly. It won’t be fun, but every time you pay off a credit line, you will be able to breathe easier.