My Debt

First thing, take a month and write down everything that you spend money on. And I mean everything. After the month is over, see what you can do without. Maybe cut the entertainment things that you do down to half. While you are doing this, read up on investing. Find an investment strategy that works for you and start putting that extra money towards it. (Don't forget to put a little aside for emergencies!) You should soon start feeling more gratified as your money starts working for you rather than you always having to work for your money.

I agree with the person who said you should write down everything you spend, it's amazing how much money you throw away on purchases you don't need.

I know how you feel. I make enough to pay minimums + a little extra..But it never does anything. The only way to pay off CC debt is by paying huge amounts over the minimums. It's depressing, isn't it? Most of the debt consolidation places are in it for the $. Be very careful getting involved with them. Sit down and write down where every penny goes -- See how much you spend on coffee/fast food/other non-necessities. You may be amazed! I always try to put as much as possible in savings every month, but it's hard sometimes.

I feel bad about this. Theres a lot of people who are in debt right now. I think everybody should learned something from this :)

Dear friend my suggestion is that whenever u spend money juz make a note of it.,Juz do this for a month..Then u juz analyse where u have spent ur money unneccassarily.Then u think on all the possible ways to stop spending money unneccassarily.If u follow this regularly then every month u will be left with some savings..u could use that savings to clear ur debt.

im having problems financially too..i hope i can really earn some income through myLot..does mylot really pay us?its hard 2 believe but im desperate.

You need to look at this logically and decide to tackle it. Is it one particular debt or lots of little ones? If its lots, concentrate on paying the minimum on all of them then all the spare cash on te one with the higest interest rate,. Get that out of the way and you will have money left to tackle the next worst debt. Keep snowballing all your spare money into each debt whilst keeping the basic payments going on all of them and you will be sorted in no time. Trust me, you can do this!

Hey there. Just wanted to refer you to some great tools on the net that are free. First and foremost, head to www.bankrate.com. They have wonderful tools to help you track and see where your money is going. Also, if you have a computer, most have microsoft money on them. If you enter in your receipts, checks, etc. you can see where your money goes. Another thing to try is to have a certain amount of money automatically go to your savings every month so that you don't even see it come into your checking account. Your best bet is to pay off any credit cards and only use a debit card, that way you will be spending only money you have, rather than borrowing money. As for your current debt, yes there are short term loans. Try asking your bank about a signature loan and if they say yes, go for autopay! There are some other great sites out there too. If you're interested, let me know and I'd be glad to give them to you.

I tried the debt consolidation and it doesn't work. They actually messed up my credit more. For some reason, they didn't pay my bills, and for 2 months I paid both because they said they would and they never did. Then when I started to call them, I never heard from them again.

try and cut down yr luxuries a bit and such things which can be avoided, instead of spending money in rong place , put it in some insurance or mutual fund companies

I see that you spend a lot with food. Maybe you should consider not to eat out anymore, but cook something at your place. I have tha same problem and this will solve it.

I was also in debt for many years now... I had took loans and made many balance transfer transactions to reduce the interest charges. This interest charges are killer... I done my mathematics so trust me. If you can get a loan at lower interest rate just take it and pay off those bank credit facilities... a 12% annually loan is better than credit line or credit card interest... though there are some credit line with lower interest rate. Nevertheless,do your mathematics and decide which is better. Now I'm better off with 2 loans to pay-off, 2 credit cards to clear and 1 credit line to clear. Every month I still manage to have some spare cash for investment. In a few months time I would be able to clear one of the loan and this equate to having more to pay for the other... Wish all well...

Can you trim the fat? What I mean is Do you have a caramel Mocchiato everyday on your way to work? Do you eat lunch out? Do you get the paper delivered? Can you say No to yourself and listen? After answering these and similar questions you should be able to find an extra $5-10 a week. Now the tough part can you put it away or towards your debt? You may want to consider entering into an agreement with an individual that will handle your finances and give you an allowance. It's not fun but it does work. Many of my clients have reports excellent results. Really and honestly look at yuor spending. You can do it

If you are not sure where your money is going, do you have someone in your family who you could trust to help you? Maybe give them all of your money, bills, checkbook, credit cards, etc. and have them give you an allowance and help you work out a spending budget.

Don't get caught in the loan consolidation thing. After a certain amount of time, they raise your interest and you are worse off than before. The way to get out of debt is very simple. Pick the bill with the lowest amount owed. Make payments until it is paid off. Then go to your next loan and and use the money you were using for the first loan on the second loan. You will probably have to make minimal payments on the other loans, but try to pay off your debts one by one. Usually if you contact the companies you owe money to and tell them what you are doing, they will work with you. This is how we got out of debt.

Do you own your home or have more than 10,000 dollars in unsecured debt? I am in your shoes too and no one will finace me....I don't have enough debt apparently....go figure!

There are personal loans you can get for debt consolodation. They charge a monthly payment with interest of course. It might not be a bad idea. Ive done it. Just be sure you dont get so much of a loan that you are stuck with a high payment you cant afford either.

Ouch, thats the problem with money,it dissappears too fast.Id say get a second job, or second way of receiving $ Have a nice day!

My husband and I were going through this last year, we signed on with CDR a debt resolution comp. BIG SCAM dont do it they took tons of our money and never resolved the debts. we got back 1/3 of the money and ended up refinancing our house. Yes there is short term loans for small amounts like 2k the bank would love to see smaller loans than big ones if you are a bigger risk. sarah

I suppose the best thing you should try is to discipline yourself in budgeting your expenses every month. However, you have to be diligent. Take out the fixed expenses like rent and bills from your earnings. The balance is your disposable income. You set a limit for everything.... sit back and make a list of all the things you spend on from mobile phone, stationery, toiletries to groceries. Set a budget for each and stick to it. Don't forget to try to keep at least 10% as a buffer if possible. Put away in your bank account and forget abt it... you'll find that extra saving useful in time of need. Don't know whether it will work for you but it does work for me. :-) All the best!