Self Debt Reduction

A lot of people like to get themselves out of debt on their own. I like to do it because well, I'm in debt and can't afford a consultant. heh These are just some ways to relive yourself with no one else's help.

The first thing you need to do is determine your monthly income and itemize each of your monthly expenses.
Then, cut back and prioritize your spending to figure out which of your expenses are necessary and which ones aren't. Whatever you know isn't essential, cut those out first.
Get in touch with your creditors and try to reduce your interest rates. You'd be surprised to figure out how many of them actually grant these types of requests.
To assure that you're maintaining your self debt reduction, be consistent and review and apply the above steps over and over again.

Very good advice Jerlene. This is what I'm doing right now, prioritize the spending. Well, it work. All of us should use this method, since this is the basic of all our expenses. Now I just buy the things which are necessary with the lowest price after make a comparison among several brands. I have left all the branded stuff which cost me a lot on my expenses. From there I can save a lot, then can expand more on paying off the debt.

I think debt-reduction is more about self-discipline than about buying different grocery brands.

It sounds like you both have the right idea about prioritizing your spending on more important things and putting the rest toward paying off debt.

I only wish more people would do this so we don't have to see the foreclosure numbers climbing in the news each day

Raven

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I guess so, I mean sometimes you just don't have free extra money to give to your collectors which makes it a bit more frustrating.