{"id":788,"date":"2011-11-21T19:23:18","date_gmt":"2011-11-21T19:23:18","guid":{"rendered":"http:\/\/tempotidbits.com\/?p=788"},"modified":"2011-11-21T19:23:18","modified_gmt":"2011-11-21T19:23:18","slug":"follow-a-few-simple-steps-and-live-a-debt-free-life-2","status":"publish","type":"post","link":"http:\/\/tempotidbits.com\/2011\/11\/follow-a-few-simple-steps-and-live-a-debt-free-life-2\/","title":{"rendered":"Follow a Few Simple Steps and Live a Debt-Free life"},"content":{"rendered":"

After the recent financial upheaval, almost all individuals are drowning in the sea of overwhelming debt. The latest statistics from the Federal Reserve indicate that the total amount of consumer debt in the United States stands at nearly $2.4 trillion. However if you are concerned about your debt burden and want to get rid of it, go for\u00c2\u00a0free debt consolidation<\/strong><\/a>. Besides that, you can also aim to achieve debt-free living by making a few changes in your life style that involves little bit of personal sacrifice and patience.<\/p>\n

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However, let us look at a few simple steps following which you can achieve debt-free life.<\/p>\n

Budgeting:<\/strong><\/p>\n

In maximum cases debt problems occur due to a failure to live within budget. People have too many desires but have limited money in hands that lead them to turn to credit. So the most important step to debt-free living is forming a budget.<\/p>\n

\u00c2\u00b7<\/span>\u00c2\u00a0<\/span>First list down all your sources of income and expenses, and review if expenditure exceeds your income. If yes, then try to identify the area where savings can be achieved.<\/p>\n

\u00c2\u00b7<\/span>\u00c2\u00a0<\/span>List the bills where there is very little or no scope of savings like fixed mortgage, rent, and council tax. Then list the areas where there is a chance for savings like social spending, food, drink, and utility bills. Try to cut back on drinks and food by avoid eating outside. You may also switch to generic food. Besides that, use an online comparison site and know how to save on insurance and utility bills. Work for that and try to achieve debt-free life.<\/p>\n

\u00c2\u00b7<\/span>\u00c2\u00a0<\/span>If you see that nothing of these steps can bring in debt-free life for you, then find out ways to earn some extra cash and increase monthly income. Working over-time, getting a second job or selling stuffs on eBay will fetch you considerable extra money.<\/p>\n

Help to come out of debt:<\/strong><\/p>\n

Whilst you have to work for managing the basic expenses of your family, debt-free living should be your primary goal. Follow a few steps to achieve debt-free living.<\/p>\n