With credit cards being offered to everyone non-stop, it is very easy to get into debt nowadays. In fact, once you go down the rabbit hole of owning a credit card and spending on it, that debt starts to get out of control if you are not very careful. It’s easy to build up a lot of credit card debt and I think finally, it is being more and more talked about now.
We need to get rid of this high-interest debt problem that is so popular and work on improving our finances. When it comes down to it, buying a home, buying a car, and more, is so hard to do when you have bad finances, so I wanted to give a few tips to help those that are struggling with their finances. Here are my best tips when it comes to getting your finances on track:
Figure Out What To Pay Off First
Start your journey to better finances by figuring out what to pay off first. I recommend starting with your highest interest rate, but you can also tackle the ‘small’ debt first, making you feel as if you are making more progress. There really is not a right answer as long as you make a plan and stick to it – that’s what it is all about!
Start Saving For Big Events Now
While you do need to modify your lifestyle (more in just a minute on this), you do not have to stop doing everything that you love. If you know that you have a big event coming up within the next year, such as Christmas, birthdays, or a trip, start planning now – well in advance. If you start saving way before you actually need to, it will prevent you from using your credit card at the last minute, racking up more high-interest debt.
Use The Envelope Method
If you have not heard about the envelope method before, read on. Dave Ramsey introduced the envelope method, which has become so popular over the past couple of years. He says, “Since you spend 12-15% more when you use plastic than when you use cash, try the envelope system. Take some envelopes, write the budget categories on the envelopes, and use only the allotted money to purchase specific things. If an envelope is empty, don’t buy anything else in that category for the month. It can wait.”
Make Extra Cash
Prestamos por Oro is an Atlanta loan lender. They provide collateral loans on your valuables such as gold, jewelry, and more, but they also buy your valuables outright, as well. They pay the most for your asset and also have the lowest interest rates offered in the area. Prestamos por Oro has been conveniently located in Atlanta, opposite of Lenox Square, for almost 40 years now. There is free parking on site and they are less than a block from the MARTA station at Lenox. Their team has the experience and knowledge of the market to offer you the best offer and they only need your credentials from any country to get your loan processed. When you go in to Prestamos por Oro, make sure to ask about their new customer special! Selling the jewelry that you do not use is a fantastic way to make extra cash in order to pay off your high-interest debt!
Modify Your Life
When you are trying to get your finances in check, you do need to modify your life to a certain extent. Like I mentioned above, you do not need to totally stop doing EVERYTHING, but you do need to be more aware and modify, when possible. For example, when you are at the grocery store, do you really need all of your junk food? Not only is that harming your body, but it’s also putting a significant dent in your wallet. At the end of the day, it is up to you when it comes to modifying your lifestyle, but you cannot keep doing exactly what you have been doing or you will get nowhere.
When you are getting your finances on track and tackling debt, it can be scary and it can feel very overwhelming at first, but if you take it one step at a time and create a rock solid plan, you can get there! I highly recommend finding a group to help keep you on track and cheer you on during your journey – you’ve got this!
I’m a Gramma to a beautiful, funny, smart little girl who was born in July of 2014. She’s the joy of my family and I’m so very proud to be a gramma (an alternate spelling for grandma)! I am a coffee, music, movie and outdoor lover! My family and I love picnics, festivals and concerts. Spending time with my family is the best part of my life. I love my job as well! Blogging and product reviewing has given my family and I a lot and I have also learned a lot and made a lot of friends.