Bailing yourself out of debt is not an easy task But there are various survival strategy in which you can use to stay debt free and gain freedom from the art of debt. Learning to be economical instead of being frivolous makes you discover that you are financially buoyant than you thought you are. You will also find out that living economically is not something terrifying but rather an adventurous lifestyle itself.
For sure paying off your debt is your number one focus on surviving the debt lifestyle war but you might be wondering how to do that? Following the strategies below will teach you how to escape and be free from the debt lifestyle, although you might in one way or the other be involved in a debt relief program but if you do not follow the strategies below you might continue to stay in debt and Not being privilege to live the debt free lifestyle you wish to live.
- Quit spending on irrelevancy
You don’t have to spend frivolously when your budget is tight, You must learn to cut out of all the beautiful and wonderful things in the world. Not only the beautiful and wonderful things but also learn to manage your spending on little things like coffee, alcohol, lunch etc. instead of spending on lunch at work you could try to cook before leaving home, this will reduce the way you spend and give you much opportunity to save and stay debt free.
- Making more money
You need to learn how to make more money by finding something financially rewarding to do when you are free or also looking for some part time jobs in addition to your full time job. There are various ways in which you can work at the comfort of your homes, offices etc without affecting your day to day job. This way include working as a freelancer, helping people fix things for income. But you must first of all have the right skill or you learn the DIY skill. Learn the DIY skills like the ability to preserve foods, knitting, mend cloths and some other freelancing skills like logo creation, article writing etc.
- Selling Off or renting out Unnecessary things in the home
There are some things at home that we need to sell off in other to make extra income in settling the debt. Things like unworn cloths, exercise equipment that is unused, furniture in the basement etc. You either sell or rent these things out, either of the two will fetch you additional income in which you could add up in settling your debt and living the debt free lifestyle. There are sites available on the internet in which you could sell them to, sites like Ebay, craiglist etc.
- Learn to save unexpected money
There are some money that comes in unexpectedly, you must learn to save this set of money instead of spending. You might be wondering the examples of unexpected money? Unexpected money include a refund from taxes, rebates, found money, gifted money etc . As soon as you encounter this set of money you must save immediately in other to stay debt free.
- Live a low profile lifestyle
You don’t have to spend money going to the beach, you don’t have to spend money going on vacations, you don’t have to spend money treating a friend to lunch or dinner. Learn to live a low profile life while in debt. Although, it might sound funny or somehow but these little things if followed enables you to save money in paying off the debt.
In summary, following all the principles above will not only help solve your financial crisis but also help you pay off your debt and helps you enjoy the lifestyle you want to live. During the debt period you must learn to endure and stay low. This are the strategies you can use to conquer the debt lifestyle war.