If you’re like most of us you’ve likely been to college. And if you’ve been to college what does does that wonderful life filled with studying for exams entail? (Or was it studying?) Yep, student loans. You’ve likely accumulated loads of student loan debt, amongst other debts as well I am sure.
Now, you and you’re high school sweet heart finally elope and a few years later you find out you’re expecting your first child togeher. The day finally comes when that precious baby is born and you’re ecstatic. Two years later you stop to check the mail on you’re way to drop the baby off at day care. You rummage through the bills that are now bills from you’re student loans and hospital bills. You’re devastated, overwhelmed and don’t know where to start killing off this debt.
The sweet american dream we all fantasize about also comes with loads of debt. Wish you knew of some ways to kill off the debt for good?
Where do I begin?
The first way to tackle killing off your debt for good is to identify where the problem is. So let’s get a jump on that.
- Most don’t know or arent aware of the resources they have available to them.
- They lack financial experience.
- They think that because they can’t see the money it is not going to run out
- Some might be too far in and don’t know where to start.
Now that you have established where some of the issues might be you can now work on killing off your debt and living life the way it was intended.
Alright, let’s get down to the nitty-gritty here. Want to know the secret to killing off you debt? Well there’s more than one, it’s kind of like a compilation of secrets.
1. Start small
Yes. One secret to killing off your debt is starting small. Since you’re already in debt, a wise thing to do would be to choose the smallest bills you have at first and make the smallest payment you can afford.
2. One at a time.
In order to kill of your debt you need to take it slow. One bill at a time, one payment at a time. You know what they say in those twelve step programs? One day at a time? Well think of this as a twelve step program for killing off your debt and keeping it off. This way you won’t get overwhelmed and you will see that you are getting somewhere.
3. Pay bills on time.
To ensure you don’t accumulate debt, continue to pay the rest of your bills in a timely fashion. No matter the situation. If you find yourself in a bind and you cant make the full payment maybe call and ask the bill collector if you can pay atleast half of the bill. If they see that you’re trying to pay it off they will most likely work with you. Remember they are human beings with hearts, and bills just like you. They are there to help you, they are on your team.
4. Ask for help.
To kill of your debt quickly and efficiently, without much of a headache, consider getting a financial advisor. This person’s job sounds exactly like the title. He or she can advise you to make wise decisions when you’re in too far over your head and dont know where to begin. Ultimately, yes, the choice is yours if you take the advice or don’t. But they can get you heading in the direction you need to go, withot judgement.
Believe it or not, killing off your debt not only requires you to pay the payments off, but it also requires you to be determined to become debt free and believe you deserve it. You need to stay focused even if it takes you five years to pay it all off. Some days you will most likely feel like giving up, yes, there’s no doubt. But keep a vision in your minds eye of where you want to be, how nice it will be once you’ve killed off your debt, and how much more free you will be.
You can come fresh out of college, get married, have children and buy a home, but with the American dream we all fantasize about comes financial responsibility. Keep a keen focused on all your bills and payments because, when you think it’s not going to add up, it does. Every thing you buy adds up very quickly, and before you know it you’re mail is all bills. If you are focused to have the life we all know we deserve, and you take these steps to ensure you kill off debt you already owe, it should be smooth sailing for you and your family.