How to save money and pay back your debts?

Debts are very common now, loans are easily available on high interests, and as a result you end up giving up a lot of money if you are not in time. So, what can you do to pay back debts in time? Debts are very common now, loans are easily available on high interests, and as a result you end up giving up a lot of money if you are not in time. So, what can you do to pay back debts in time? Can you earn more? If yes then it would involve working extra time, which would in turn make you unhappy and unsatisfied. So alternatively you can take proactive steps to save and pay those debts faster. It’s just a matter a few months and then you can resume to your normal lifestyle.

Firstly observe your phone and mobile phone bills, if any of those is not in use, get I it disconnected or shift to a cheaper plan. You can also try to shift to a cheaper internet plan and put a cap on it. Next up goes the regular supermarket cost, don’t try to be extravagant, live modest and don’t be impulsive in buying things. Make a fixed plan and stick to it, don’t be driven by your greed. For meat, instead try the local butcher, it would definitely be cheaper than what is available in the supermarket.

If you have memberships in clubs, libraries or gym and you hardly use it, the best idea would be to cancel it. A lot of people pay hefty amounts for their gym memberships but don’t go at all. Even if you have to exercise daily, take up yoga and jogging for a while.

The mode of your travel is very important, try to use public transport as much as you can. If you can’t skip using a car, use one with a smaller engine and more mileage. Saving fuel is an excellent way to save money while you do something for the environment too. Lastly, don’t buy anything new and stop using your credit card till you payback all your debts. If you still find it find, consult to a debt management company like Back 2 Credit and look at some debt management solutions. The company also provides IVA debt advice to debtors. Call them at 0800 092 0455 right now and live debt free for rest of the life.


By: John Mitchell

For more details check it out: Debt management and IVA

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Article Tags: Debt Management , Business Debt Management , IVA

Submitted On Sep 11, 2012. Viewed 698 times.

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