Family Life

Make 2019 The Year That You Break Free From Your Debts

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When you’ve got a large amount of debt to pay off, it can seem almost impossible that you will ever be able to clear it. However, what it’s important to realize is that it’s not impossible, it might take time, but it is doable, it’s just a case of being willing to make some changes, that’s all.

Reducing a large amount of debt may seem impossible, but it can be done. Here are some tips to help you get started down the path to break free from your debts.
Photo by Michael Longmire on Unsplash

Tot up what you owe

The first step that you need to take is to tot up what you owe. Sit down, go through your bank account overdrafts, unpaid bills, and so on, and work out what your overall amount of debt is. It might be scary doing this, but if you are going to get those debts paid off, you need to know how much you owe. Whatever the overall figure is, don’t panic. The most important thing is not to bury your head in the sand. Reducing a large amount of debt may seem impossible, but it can be done. Here are some tips to help you get started down the path to break free from your debts.

Look into debt management plans.

When it comes to clearing your debts, it’s important to consider getting debt advice from money experts, so that you can work out the best way to go about clearing your debts. These types of plans can be useful as they let you know where you stand financially, ensuring that you always know what you need to pay when this makes keeping track of things easier. Sometimes, if things are really bad, you might need to consider advice from someone like Rashad Blossom.


A simple way to ensure that you have more money left over each month is to tighten your purse strings a little. Aim to find new ways to cut costs so that you have more money to put into paying off your debts each month. From now on, only buy what you need and nothing else. Write a list of what you spend each month and use it work out where you could be reducing costs. Perhaps instead of driving the kids to school, you could be walking, for instance. Or, maybe you and your partner could car share to work, instead of taking two cars.


Talking about cutting costs, it’s a good idea to work out a monthly spending budget so that you know what you have each month to spend. Calculate yours’ and your partner’s incomings and then deduct any outgoings from them, so that you know what your monthly budget needs to be. As well as setting money aside for rent or mortgage payments, bills, and gas money for your car, don’t forget to calculate what you need to spend on food and payments for school clubs, clothes, etc. You will find that once you have a budget in place and know what you can spend on each thing, you will find it easier to save money to clear your debts.

Being in debt is a nightmare, especially when you’ve got lots of other things to pay for and a family to look after. However, it’s important to stay positive about things and understand that although it will take time to clear your debts, it is doable. If you want to make 2019 the year that you break free from your debts, the tips and pieces of advice above can help.

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