Skip to main content

The First Step to Paying Off Debt Is to Be Honest About It

Debt.

No one wants it yet many, many Canadians and Americans have it.

Most college students graduate from college saddled with thousands, if not tens of thousands of dollars of student loan debt.  Added to that many of them also carry credit card debt. They use credit cards to make ends meet while in college, and well, let's be honest, just to have fun going out with friends and buying the latest clothes.

If you are saddled with debt, the first thing to do is to be honest about your debt. Face up to it and own it. It is your debt, and you are responsible for it. If you feel comfortable, tell a trusted family member or friend about your debt. (I know this is difficult to do, but be honest.  Often being honest and forthright can help you stop accruing more debt.)

The next step is to formulate a plan to get out of debt. If you are in too deep to figure a way out on your own, you may want to work with a debt relief company such as www.debt.ca.  They will tell you if there is a way to get out of debt without filing bankruptcy. They help with debt-settlement but there are certainly debt relief agencies in the United States that can also help you with debt settlement.

After you have a plan in place, know that it may take you several months to years to get out of debt. Remember, your debt grew over a number of years, so it will likely take longer than you would like to get out of debt. Be patient and know that the day will come.

Finally, once you are out of debt (yay!), remember the lessons learned so that you don't go back into debt. Take the time to create an emergency fund. Learn to save for things and have the money BEFORE you buy them. Don't be shy about asking for a raise at work or continuously searching for jobs that pay better.

While you may feel there is no financial hope right now, don't despair. You can get out of debt.


~~A~~

Popular posts from this blog

Miss Poodle Perm, That's Me!

Jill of Scary Mommy is doing a linky post about school pictures. You know the ones, possibly you didn't smile a sweet smile, just the smirk of panic. Or you didn't know it was picture day because you had been out sick for a week and you show up in your most comfortable shirt and bed-head. (Yep. That happened to me. The smile was good though!)

Well, my scanner isn't working or else I would post a particular picture from Freshman year. Since I don't have a visual, here's the story:

I remember my first day of High School. Actually what I remember is the picture taken of me leaving for my first day of High School. I'm wearing a brave smile, but the hair, the hair, my hair style was a nightmare.
My two best friends and I were going to be attending a High School out of our district. That was stressful enough. To add to this new-ness we wanted new looks as well. K. was going to sport the Argyle and Alligator shirt look. W. was going for 'All Monogrammed, Al…

How to Help Your Loved One to Recover

It can be very difficult to have a loved one who is battling an addiction. It can be hard to know what to do or how to help. Luckily there are many resources, programs and even rehabilitation centers that are specifically designed to not only help you to know what to do but also to help your loved one to recover.

Addiction is a very real problem all over the world, and in the United States alone there are ever 23 million Americans who are struggling with some sort of addiction. Over 64 percent have had to deal with the emotional aspect of having someone close to them who was battling an addiction.

You can feel very helpless when you are close to someone who is battling an addiction, and it can be hard to know what to do. You don't want to make your loved one resent you or to be angry with you because you are trying to get them to stop, but you also can't just stand by and watch. An addiction, no matter what it is to, can consume the person who is addicted and it can also be fat…

6 Things to Do to Improve Your Homes Water Quality

Water is an essential element that everyone needs for drinking, washing, and thriving. Many people don’t take the time to think about the quality of their water in their home. If your water quality is poor, that may have an impact on your health and your family’s well being. Whether you get your water from a well or your city’s water service, it’s important to think about its quality. Here are 6 actions you can take to help improve your water’s quality.
1. Test Your Water
It’s a smart idea to periodically test your water. If you are purchasing a new home, building new construction, or signing a new lease for an apartment or condo, make sure you test your water before moving in. There are inexpensive home water testing kits you can easily complete yourself. Home testing kits can give you a better idea of the chemical concentration of your water and whether or not there are any contaminants in your tap.
2. Find the Source
Another smart idea is to do some research and find the source of…