Tools to Reduce Your Debt

Speaking from true experience, we all want to be free. Free from fear, worry, and debt. Yes, debt. That four-letter word that most of us are quick to get into because we just have to have things, some good and some not so good. Either way, debt is a part of most of our lives. From the time we were little kids we heard the word used in many ways. Not so much the term, financial freedom.

What Causes It?

I need a new car and how do we get it most times, debt.

I need to go to school and how many of us owe Sallie Mae right now, debt.

Gotta have a place to live, right? I get it, but most times, we obtain it by borrowing and it causes what? Debt.

We cannot forget that medical bill that we thought insurance covered. Yikes!! Debt.

Let’s get out of it!!!

Look, I get it, and honestly taking control of your finances is not a class taught every day. What is taught a lot is that you have to have debt to have anything. Unfortunately, that is for the most part a fact, but not always true. The question is do you have to stay in debt? The answer is NO!!

How many of us enjoy that dreaded phone call or for some of us phone calls from the debt collectors? But we still go out and get ourselves into more and more debt.

There’s an end in sight

Buried under all of those bills, is a will for you to get out of debt. Do not get me wrong, some debt is good to have, but the keyword is some. Not putting yourself in a situation where you all doing nothing but working to pay off your debt. In my past, not so distant past either, I had to make the decision that I wanted more. More important things than that next pair of shoes or that expensive car. Once you make up your mind to get out of debt, next is how you do it. How can I end this cycle? Well, let me tell you.

Financial Tools to Reduce Your Debt

Let me give you another word that most people hate to hear. Bankruptcy. That word that some of us just cannot stand and think will end their whole world. Not!! It won’t. It actually helps, let me show you how. There are many tools out there, but this one actually helped me get into the home that I am in now. After years of trying to run from creditors, I decided to improve my quality of life and I did it by filing bankruptcy, but specifically Chapter 13. It was not the easiest decision to make, but it was certainly the best for me. I knew that I owed the companies the money, so in my mind, I decided to take the route that paid back most of the debt I owed. To learn more about bankruptcy along with its pluses and minuses, click here.  

Live Again

Now it may take a moment to get back on track after making an educated decision to clean up the debt, but you will thank yourself later for it. The next step would be to look for online financial tools that deal with budgeting. No longer do you have to be a slave to debt or the creditors. Put the control back into your own hands and live again.

Remember, you do not have to do this on your own. Take to time to do research on financial tools that can help you take control of your money.