Shed Unwanted Debt for the New Year

Probably one of the most popular New Year’s resolutions is trying to lose weight. Everyone sets goals to shed unwanted weight to make them look and feel better about themselves. What about the unwanted weight of financial debt? Financial debt can sometimes make us feel worse about ourselves than the reflection we see in our mirror.

If shedding some of your unwanted debt is the resolution for you, then check out our list of helpful tips.

Make a List

Go through your bills and make a list of the debt that you owe. It’s important to know what and how much you are spending on unwanted debt. When you make a list of your debt you can figure out what bills you need to pay off first.

Stop Using Credit Cards

Credit cards are your enemy! You will never shed unwanted debt if you continue the lifestyle of charging everything you purchase.

Plan a Monthly Budget

A monthly budget helps you to plan for how your money will be spent as well as track your actual spending habits. For example, planning out your grocery list can be a part of your monthly budget. This will help prevent you from buying unnecessary things that you don’t need like 4 packs of Little Debbie’s. Never shop on an empty stomach!

Sell the Stuff You Don’t Use

I know we can all agree that we accumulate a lot of junk over the years. Why not turn the stuff you don’t use anymore into money that can be used to help pay off unwanted debt? There could be items sitting in closets, cabinets or storage rooms that you could sell to help expedite paying off your debt.

Stop Expensive Habits

Do you tend to buy things that you may not need but want? Imagine how much money you could save if you stop spending money on things you don’t need. Use that extra money and use it to help pay off your debt.

Happy New Year! We hope you have a great year of reaching your financial resolutions!