The personal bankruptcy attorneys at Canterbury Law Group are constantly helping clients permanently rid their lives of debt. As the New Year is swiftly approaching, the law team at Canterbury knows that motivation about personal finances will be on the rise. In fact, many Americans add “getting out of debt” to their resolutions for the New Year.
If you are ready to start fresh financially, we suggest five simple tips to eliminate debt from your life:
- Stop adding more debt: If you are trying to eliminate debt, it is crucial to avoid adding more debt to your “debt pile.”
- Eliminate credit cards: One of the biggest down falls that most of us have is the reliance on credit cards. If you cannot control how much you spend when using credit cards, then cut up your cards or leave them at home until you are out of debt.
- Cut your spending: Can you save some money after all of your bills are paid? Look at all aspects of your spending in hopes to add more to the debt fund. For instance, try to use your utilities wisely to save on water, electricity and gas, and put that savings towards paying off some debt.
- Embrace a (temporary) frugal lifestyle: Although society tends to believe that we need a lot of things to survive, we can actually get by with very little. The more of the excesses you can trim out the sooner you will be out of debt.
- Always lookout to improve your current income: The more the money you make, the more you will have left over to throw at your debt.
If you have questions about your finances and / or bankruptcy, call us today to schedule a consultation at 480-744-7711 or [email protected].