Beating debt is as much to do with what’s going on in your head as it is to do with what’s going on in your wallet. If you have a debt problem you can solve it if you admit this. Here are five steps you can take to begin beating your debt:
1. Take control
There comes a point where you have to admit that your debt is defeating you. You can’t keep up with repayments; the interest charges are mounting up and, maybe even worse, you’re using one loan to pay off another.
You have to take control of your finances: if you don’t your creditors will. If you are in denial about this you need to face the truth. If you can face the truth and take control, you’re on the first step to beating debt.
2. Live within your means
Take a look at your credit card and charge-card statements. What did you spend that money on?
Go round your house and take a good hard look at the goods that you bought with those credit cards. Are they worth it? Did you want them that much? What difference have they truly made to your life?
What do you feel like when you look that stuff and say to yourself, ‘I haven’t paid for...