debt
By mandaj17
@mandaj17 (19)
United States
December 16, 2006 6:14pm CST
does anyone have any tips, or personal experiences with getting out of debt? we are not like near bankruptcy or anything, we can pay all our bills, but generally don;t have enough left over to save $$ or things like that and i would like to cut down on the hours i work, so I would like any advice you have to offer on how to eliminate debts. thanks!
1 response
@onesiobhan (1327)
• Canada
17 Dec 06
Is your debt on credit cards? If it is you can shop around and get a lower interest card. Some have special promotions where they'll give you a special low rate if you transfer your funds from another card. You can switch your debt from card to card and take advantage of the lower rate.
See if you qualify for a line of credit - they often have a lower rate of interest than cards do.
Don't buy anything unless you can pay cash for it. Lots of people stay in debt because they are using their credit as fast as they are paying it off.
Look online to see if there are any freecycle groups near you. You can get a lot of things for free that way. Also buy things used when you can, it's a lot cheaper. Check into co-ops and food share, you can often cut down your grocery bills that way. And it's good for the environment too!
