How can i turn my debt around?
Downsize your life as much as possible. 1. Cancel the extras: cable, broadband, the biggest cell package etc. You can always get them back when you are financially ready for it, but paying for extras when you don’t have extra cash will eat away at your money quickly. Gym membership? Tennis club? Cancel it. 2. Get a roommate: Your rent / mortgage just got cut in half. 3. Stop eating out: Dave Ramsey encourages the “beans & rice” diet for people that are trying to get out of debt. I’ve done it. You only cook at home and you cook really really cheap food. Spaghetti, Mac & Cheese, pancakes, beans & rice, etc. 4. Start selling off your stuff that is in the back of the closet. If you haven’t used it in the last year, get rid of it. Turn Ebay into your best friend. 5. Sell your car. If you don’t get another job soon, you’ll end up having it repo’d anyway. Take control of the transaction now and get as much as you can for it. Buy a $1000 junker that runs. This will get rid of your car payment
