How You Can Strive to Get Out of Debt This Year

Before you go and get a csl plasma card to make extra money, while I’m not saying that having another income is a bad thing, but it’s a good idea to look at all of your money coming in and going out to see where you can make some adjustments.  A good place to start would be to pull last month’s debit or credit card statement and see exactly how much you are spending, even if you have to go line by line.

Avoid Going Out to Eat

Sure, it’s great to be able to go out to whatever restaurant you want, order your favorite item on the menu, have it cooked perfectly, waited on, and then even better, have everything cleaned up after you.  The problem is that this comes with a premium price, and if you continue to go out to lunch, dinner, and even pick up coffee on the way to work every day, it can add up pretty quickly.  If you can go grocery shopping instead and prepare your meals at home, you can watch the hundred dollars of savings add up right away and you may never look back.

Cut the Cable Cord

Speaking of never looking back, sometimes you have to make the tough choices when you are looking to cut expenses and cable is one of them.  Sure, you have always grown up with cable, or at least remember when you first got cable, but times are changing and viewing habits are different these days and you probably stream everything and the rest watch from DVR so you don’t have to watch commercials.  You are not alone.  So maybe cancelling cable isn’t that far out there and by doing so, could save a couple hundred dollars a month going forward you and may never even miss having it.

Improve Your Credit Score

While you may not think that improving your credit score has to do with getting out of debt, but the interest rates you pay on your mortgage, your car loan, even insurance has to do with credit score, and having a higher credit score unfortunately prices you out of getting the best interest rates on the market and costs you money each month.  If you can continue to make on-time payments, get out of debt, and avoid too many new credit pulls, your score will rise and hopefully can refinance, take out a new loan, etc. and watch the savings add up.

Compare Prices for All Purchases

It used to be that in order to compare prices you had to drive across town from store to store, killing your day and gas tank, to maybe save a few dollars, but after it was all said and done, was it worth it, as your time can be far more valuable.  These days you have virtually an endless number of websites at your disposal that you can flip around in the matter of seconds in order to find the best prices, so for the purchases you do need to make, there’s no reason to settle less than the best deal.

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