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Ways to reduce debt!


DebzUK
Rep Points: 30
Hi

I read this on the internet once, I tried it and now im almost debt free!

Live with Your Parents / Relatives (It helps you get back on track with money!). Ok this might not seem like a GREAT idea but it will save you money – Not only will the rent be less but hopefully you will get meals cooked for you ;)

Give up Drinking / Coffee (It’s surprising how much you can spend on drinking out!). Have friends round or go around to a friends house, its cheaper than going to a coffee shop – You will be surprised how much you save!

Cook For Yourself - It’s expensive to eat out at diners and restaurants! And getting a take away may seem like the easy option but the money adds up! Cook for yourself, it will save you more than you think!

Cycle to Work (or walk, or run!) – If you live within walking distance don’t waste money on public transport or petrol, walk! Not only will you save money, you’ll get healthier!

Tear up your Credit Cards – They’re too tempting! And before you know it you will have charges and interest adding up!

Take a Holiday in your Back Garden (OK not literally, but why go abroad when there are plenty of places here to visit!)

Sell Your Car – It may take some getting used to being without a car but as well as saving on petrol you will save money on tax, insurance and of course repairs if your car breaks!

Mend Your Clothes (A button missing, a small patch? just fix it!). Retro clothes are always in fashion so don’t spend money unnecessarily on new clothes when you can fix... and change the existing clothes that you have!

Honestly, I know it seems simple but these few steps can really help!!

Raven
Rep Points: 495
These saving-money tips are great! So many people say they really want to pay off debt, yet they're not willing to sacrifice hardly anything out of their lifestyle to make it really happen.

Even a few extra dollars saved can be put towards paying off debt.

CiaranMyers
Rep Points: 30
i have had some trouble with debt myself in the past. i have tried most of the methods of saving money yu nentioned and all of them worked out incredibly well for me. i saved alot of money and got my self back on track.