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Dealing With Debt Problems

Updated on May 28, 2013

Start Reducing Your Debt

Dealing with debt can make a person miserable! Make you feel like you're trapped and can't go on and live a happy life. Creditor calls harassing you for payment can make one go insane!

You need to get a handle on your debt problems because you don't want to file for bankruptcy and ruin your credit even more for the next 7 to 10 years! You got to make major spending changes in your life and in this lens, I'll explain how you can start paying off your debt and live a debt free life.

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Manage Your Spending Habits

If see something you'd like to buy but do not have the money for it, don't whip out the credit card! Save up money first and then buy it and you'll notice how much money you would be saving yourself instead of paying those fees to the credit card companies. Use the money you saved towards your debt.

Credit card companies love when people are in debt with them because people pay high fees that are going into their pockets. They always find ways for you to use your card like offering you points and rewards. DON'T FALL INTO THAT TRAP! If you must have a credit card, only use it for emergencies only.

Start cutting off some of the luxury stuff that you usually do. If you enjoy going to the movies all the time you can change that by renting movies instead. If you get your nails done every week, try to get them done every two to three weeks.

I remember I was getting my hair done every two weeks and cut it down to getting my hair done once every month which really helped me save money to go towards my debt.

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Debt Poll

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Get Your Debt Under Control

I'm currently in debt now and what I've done was consolidated my debt by getting a consolidation loan so I can have just one bill each month. Doing this has lowered how much I pay out to my debt and helped pay down my debt faster. Plus I don't have to pay 4 or 5 different bills each month and taking the risk of forgetting to pay a bill which leads to late fees and penalties.

Remember to not fall for those crooks saying that you can erase your debt within months. All these people are trying to do is steal your money and put you in even more debt. Just think, if this was even true then everyone would be debt free today.

Dumping Debt: Breaking the Chains of DebtCHECK PRICE

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Life After Debt: Practical Solutions To Get Out of Debt, Build Wealth, And Radically Transform Your Finances Forever! CHECK PRICE

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Debt Free For Life: The Finish Rich Plan for Financial Freedom CHECK PRICE


Start Working From Home and Put Money Towards Your Debt

This is one of my favorite ways I make money to pay off debt! I did some searching online and found free programs to make money from like joining Survey Panels . These websites I get paid for my opinions on products and different topics. This is a great way to earn extra income instead of using some of your pay check to go towards your debt.

If you're first starting out with earning money online, I'd recommend going into Affiliate Marketing Business in which you get paid for bringing in sales or referrals and you get paid a commission for doing so.

Becoming a Affiliate Marketer online is free and you're helping bring in business for companies and they're rewarding you for it. Companies are doing this kind of business instead of hiring extra employees to save themselves money. So it's like working on commission, you bring business, you get paid.

Another way of making money online is writing articles. I enjoy writing helpful tips articles that'll help people save money. Squidoo is a good site to write articles and make money. You make money with Squidoo by making sales with Amazon, eBay, Squidoo's Tier Adpool, or your own affiliate program you've joined.

Also another great way to make money online is creating a blog and adding Google ads on it called Google Adsense. Create a blog, build up traffic and fans, and you'll start making good money from your blog. Remember this doesn't happen over night, building traffic to your blog takes time and effort on your part.

If you have old junk that's just laying around and collecting dust, SALE IT! eBay is a great place to sell your old junk. Remember another man's junk, is another man's treasure. The money you make from your sale can go straight towards your debt.

Start Working Online

Check out these helpful free ways to make money online.

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Live Within Your Means

Don't go on a spending spree and fall into debt. Having debt makes a person feel like they have a brick wall surrounding them and can't do anything with their life. Break that wall down and get yourself out of debt! How this economy is today and people losing their jobs left and right, this would be the best time to pay off your creditors.

How Are You Taking Control Of Your Debt?

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    • Paul-Lenton profile image

      Paul Lenton 3 years ago from El Calafate, Argentina

      Absolutely fine... I've no credit card, (I used to have one, but paid an enormous debt for lack of knowledge and financial wisdom and now I'm free) so I now go for only cash down payments. Those who only accept credit cards will have to do without me!

    • takkhisa profile image

      Takkhis 4 years ago

      Thanks for the valuable info :)

    • Louidam1 LM profile image
      Author

      Louidam1 LM 4 years ago

      @WriterJanis2: Thanks!

    • WriterJanis2 profile image

      WriterJanis2 4 years ago

      You have some very good suggestions. Cutting back here and there and earning extra money here and there can really make a difference.

    • Louidam1 LM profile image
      Author

      Louidam1 LM 4 years ago

      @kabbalah lm: Very true!

    • kabbalah lm profile image

      kabbalah lm 4 years ago

      Something we all struggle with. You have to have dicipline

    • Louidam1 LM profile image
      Author

      Louidam1 LM 4 years ago

      @anonymous: Thanks for sharing your story Tipi! I'm glad to know that you put your bills first and conservative with your money.

    • profile image

      anonymous 4 years ago

      My Dad worked hard and Mom work hard at home, they were the best. We did have everything we wanted by a long shot, but we had everything we needed and than some. I suppose I learned to be conservative from them, and I seem to have passed that onto my adult children. I work hard for every penny I earn and am grateful that I can, and my bills come first, because that is not my money. :)

    • Louidam1 LM profile image
      Author

      Louidam1 LM 4 years ago

      @Lady Lorelei: Yeah my mom and dad was the same with me and my siblings. When my parents didn't really have a lot of money, we really never knew because they would always come home with something for us.

      But yes, debt is scary and something I'm trying to get out of now!

    • Lady Lorelei profile image

      Lorelei Cohen 4 years ago from Canada

      My father was a big kid and loved all the little treats in life. No matter how poor we were as children he would show up with 6 packages of strawberry gum (one for each of us) or some such other treat. Now that I am grown I really have to watch my spending tendencies or I have to earn a better income lol. Debt can be scary.

    • Louidam1 LM profile image
      Author

      Louidam1 LM 4 years ago

      @porfin: Thanks! You have a couple of more weeks before the end of this year to get out of debt.

    • pinkrenegade lm profile image

      pinkrenegade lm 4 years ago

      Spending money wisely really helps in taking control of debt.

    • profile image

      porfin 4 years ago

      Very useful tips, want to be debt free before the new years starts.

    • Louidam1 LM profile image
      Author

      Louidam1 LM 4 years ago

      @pinkrenegade lm: That is one of the best ways to keeping control of your debt!

    • Louidam1 LM profile image
      Author

      Louidam1 LM 4 years ago

      @darciefrench lm: Darcie, you're a great example that people can get themselves out of debt if they live within their means. We all need to learn that having material things is not important in our lives. People just buy to impress others and all it does it leads them into mounting debt. Unfortunately where I live is not on a bus route here in Georgia so I must have a car. Good thing my car is paid off. But now with me paying down my debt, I have embraced what's more important, and that's the life that God gave me!

    • darciefrench lm profile image

      darciefrench lm 4 years ago

      Thank-you for the great tips for controlling debt. I was very near to personal bankruptcy a few years back, it's a horrible situation and very stressful. Today I live very simply, well within my means, I embrace Flintstone power and public transit, don't own any credit cards, never over stock at the grocery store and find joy in God's beautiful life vs material gain. All the best to you and your readers <3

    • Louidam1 LM profile image
      Author

      Louidam1 LM 4 years ago

      @getmoreinfo: Also one of my major goals too!

    • profile image

      getmoreinfo 4 years ago

      Being debt free is one of my major goals for 2013.

    • Louidam1 LM profile image
      Author

      Louidam1 LM 4 years ago

      @dellgirl: You're welcome!

    • Louidam1 LM profile image
      Author

      Louidam1 LM 4 years ago

      @shawnhi77 lm: Great! Thanks for stopping by Shawn!

    • profile image

      dellgirl 4 years ago

      Managing Your Spending and Living Within Your means are 'biggies'. These two can make a huge difference in one's financial life. Thanks for sharing this helpful information.

    • shawnhi77 lm profile image

      shawnhi77 lm 4 years ago

      This is a subject near and dear to my heart. Yes I am taking control of my debt. Your lens is full of great information. Very well done.

    • Louidam1 LM profile image
      Author

      Louidam1 LM 4 years ago

      @Ahdilarum: That's what I've been doing! It really helps!

    • Ahdilarum profile image

      Ahdilarum 4 years ago

      control your spending. Buy only essential thing. Don't buy unwanted things, for cheap/free offer.