Have you lost control of our finances? Not sure how to beat that debt?

Here are ten things that you can do to help improve your financial health.

 

1.) Keep track of spending and make a budget.
2.) Put needs before wants.  Buy what you need first.  Eliminate unnecessary expenses and look for things you can live without.
3.) Keep your credit card in your wallet. Use your cash or debit card instead.
4.) Avoid “Buy Now, Pay Later” offers which tend to include high interest rates and administrative fees.
5.) Reduce small, recurring expenses (ie – use public transportation, bring your lunch to work, reduce your coffee consumption,etc.)
6.) Review and reduce your banking fees.
7.) Pay down your highest interest rate debts first.
8.) Contact your creditors and work out a modified payment plan to pay off your debt.
9.) Look into a consolidation loan with your financial institution to pay off all your existing high interest debts.
10.) Talk to trusted financial professionals about your debts. This might include your bank representative, financial planner or a trusted credit counselling agency. With their help, you will be able to evaluate your current debt situation, determine your present and future needs, make a budget and learn about ways to pay off the debt.