Debt is something that you want to get rid of as soon as possible. It’s spent too much time sleeping on your couch and eating at your table. No, the best way to treat debt is to kick it to the curb and send it packing.
You can step up your debt elimination efforts by cutting back on some of your expenditures and refocusing the money. So, let’s look at some frugal tips to help combat debt.
Frugal Living Tips to Combat Debt
Tip 1: Try Couponing
You may have heard plenty of people talk about couponing but never tried it yourself. But done correctly, couponing can save you some serious cash that you can use towards your debt. The best couponing strategy is to only use coupons for the items you were already going to buy in the first place.
You may have seen TV shows or read stories about people who practice extreme couponing. Doing this is simply not practical for most people, because it takes way too much time and effort. Besides, do you need ten boxes of fabric softener in your crowded laundry room?
No, what you want to practice is couponing for real people. By doing this, you will save real money that you can use to pay down debt.
Tip 2: Visit the Library for Entertainment
It can be all too easy to spend money on books and movies today, especially when it comes to online sales. Between Amazon, Apple iTunes, and others, you can get that instant gratification fix for a new movie or ebook in only minutes. But that ends up costing a lot of money, and usually for something that you will never want to experience again.
Instead of paying for movies and books, consider a trip to your local library. There you will find many items for your pleasure, and your debt fund will thank you for it.
Tip 3: Plan Your Grocery Store Trip
It is all too easy to overspend at the grocery store. It is amazing at how many delicious items they have there, and it all can be yours for a price. I’m probably not the only one who has made a grocery store trip, only to return with everything that appealed to me and yet nothing that I went for in the first place.
If you want to save money for your debts, you need to plan ahead when it comes to grocery shopping. One of the first rules to follow when it comes to grocery stores is never to go while you are hungry. Doing this is probably the leading cause of impulse food buys.
You need to make a list and, most importantly, stick to it. If you see an item that you want, but it’s not on the list, make a note to add it for next time.
One effective way of handling the surprise items is to agree on a limited number or total value of these items that you will allow.
For example, you can say that you will permit no more than three extra things, and the total can’t go over $10.
One of the best ways to avoid overspending at the grocery store is to use the online ordering and free pickup that many stores are now offering. Not only is it faster than spending the afternoon at the local market, but it removes the impulse buys.
Just jump online, pick your items, and swing by to pick it up while you run other errands. Some places even offer delivery but pick it up yourself if there is a large delivery fee. The goal here is to save money with which to pay off your debts.
Tip 4: Cut the Cable
We’ve said it before, but consider cutting cable as a money-saving tactic. There are so many great choices for online entertainment that costs so much less, and a few of them even rival the cable companies for the channels they carry.
With the right strategy, you’ll find that it is easy to save money to put towards debt. If you find that getting rid of your debt is a more significant issue than you can handle yourself, consider getting help from companies like Nationwide Debt Reduction Services and other professional services.
The important thing about handling debt is to start now and keep chipping away at it. This time next year you can be looking at an entirely different financial picture.