How to Get Out Of Debt Fast You Are Broke As Hell

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but how you do that when you don't have any to spare

table of contents

ready to simplify the debt payoff process…

lower the interest rates on debt

learn to live on a budget

ready to simplify the debt payoff process…

combine the high-interest charges

these simple strategies will help you kick start your debt payoff plan

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there are hundreds of tips on how to get out of debt…

lower your interest rates to allow more money to go on your actual debt every month

i've got tricks up my sleeve to find a little extra to add to your debt payments…

paying more on your debt will lower your payoff date

lower the interest rates on debt

consolidate your debts into a lower interest loan

grab this free guide f information on how to lower your interest rates to pay debt off faster

many of my readers have had great success in lowering their interest and consolidating debt

many credit card companies offer zero-percent financing on balance transfers

once you've reduced your interest rates

until you are debt-free

this is one area that doesn't get much attention in may “how to get out of debt” articles but it's super important that you protect the assets that you have

i use choice home warranty because they will protect all your major assets in one company so you don't have to keep t of a ton of paperwork

you find more tips on how to do this in how to control impulse spending

…or hit up the atm anytime you are short on cash and need bucks

this will prevent you from dipping into your emergency fund when you want to spend money on a whim

learn to live on a budget

now that you have cut back on spending

the keys to creating a budget you live

it just won't work…

it may not look great on paper at this point

it be tempting to try to tablespoon every single penny out of your budget when you are determined to get out of debt

it won't do you any to review your budget once the month is over because what's done is done

this spread is how i track my budget because it saves me so much time every month since it auto-populates from the spending tracker so i always know if i'm on track

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how to get out of debt fast you are broke as hell

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how to get out of debt fast you are broke as hell

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getting out of debt is enough…

…but when you're broke as hell

when you are trying to figure out how to get out of debt

it's frustrating…

are you just supposed to surrender to being in debt forever

hang on… before you give in to defeat

yes

why getting out of debt is so

debt payoff simplified

how to get out of debt fast when you're broke as hell

negotiating better interest rates

consolidate your debts

debt prevention: how to prevent getting in more debt

change your money mindset

protecting your assets

control your spending to prevent more debt

build an emergency fund

how to budget

tracking your budget

create a debt payoff plan

debt avalanche

debt snowball

set realistic goals

t your debt payoff progress

finding more money to pay off debt faster

found money

change your tax withholdings

sell what you can

find cheaper alternatives

reduce monthly expenses

earn more money

final thoughts on getting out of debt

debt payoff simplified

why getting out of debt is so

this is most noticeable when you have credit card debt

most credit card companies charge you anywhere from to apr on the amount you owe

just take a peek at your latest credit card statement…

i pretty much guarantee you that you were charged over more in interest than what the minimum payment required was

if you are only paying the minimum payment on your debt

so now the question becomes

debt payoff simplified

paying off debt doesn't have to be so

even if you can't another dime out of your budget

how to get out of debt fast when you're broke as hell

but

paying more on your debts to reduce the amount of interest you are paying

yes

…but you'll get more bang

more money will go towards the debt and less on monthly interest charges

course

there are three ways to start paying less on interest…

ask your current debtor

transfer your balance to a card

let's break these down to find the best option

negotiating better interest rates

negotiating better interest rates is one way to reduce your interest rates

it's not as scary to do as it sounds

simply call your creditors and let them know that you think the interest you are paying on your credit card is higher than you'd like it to be

let them know that you've found better rates but would rather continue doing business

many times

supervisor to see if they help you since they have more authority to do these things

if they still refuse

consolidate your debts

if at all possible

this will help you reduce the amount of interest you are paying as as make it easier to manage your debt payments because you'll only have one payment a month

if you are going to take this route

transferring the balances on your current credit cards to another card

not paying any interest on at least some of your debt could give you a nice boost to help pay it down quicker

if you do choose this option

what if i can't get the interest rates on my debts lowered

if you can't get the interest rates lowered on all your debts

work on improving your score

here is an article that'll walk you through what you should focus on to improve your score quickly

debt prevention: how to prevent getting in more debt

you need to turn your focus to making sure you don't take on any more debts…

there are main things that you need to put into place to prevent adding more to your debt

change your money mindset

the first things you need to work on is changing your money mindset if you want to get out of debt

after all

you have to change your mindset from being a spender into a saver

let me ask you

“oh

if you've ever thought of money in this way

because guess what? there are plenty of ways you reduce your cable bill to save money

besides

that would certainly help pay off debt

to change your money mindset

no

it's preventing you from being happy…

protecting your assets

what do i mean by assets? things like your home

if you lost any of these things it would cost a lot of money to replace and would cause you to get into more debt

repair them is a must to prevent a financial tragedy

in addition

replace these things

control your spending to prevent more debt

once you have changed your money mindset

you put yourself in situations that you really should stay away from

there may be many reasons why you overspend and aren't living below your means

identify what triggers you to spend money when you know you really can't afford to

where is your money going

do you go shopping when you are bored

activity that you do to replace shopping…

better yet

clubs on the weekends

find other ways to get together

does money burn a hole in your pocket and you just know that you can't control spending it if you have it

if so then leave your cash and cards at home and bring only enough

there are many reasons that you may overspend

build an emergency fund

having an emergency fund is a must

i'm sure you know as as i do that unexpected expenses happen all the time

if you are not

i'm sure if you thought it

aim to grow your emergency fund to at least $ before tacking your debts

open a dedicated account

step one is to set up a savings account at a bank other than the one you do your normal everyday business with

i suggest an online bank

one

this is

don't worry not being to access your money instantly

typically

yet you will still be able to get it in time to pay

earning interest on your money

the second reason is that online banks pay you way better interest rates than a brick and mortar bank

in fact

cit bank is the best option and my recommendation

typically pays the highest interest rate than most online and brick and mortar banks

maintenance fees

com interest daily to maximize your earning potential

only requires a $ minimum deposit to open an account

open a ci savings builder account today

many people don't like the idea of a budget

it be difficult to stick to at first but believe me

before you know it

your budget will become your best friend in helping to keep you on track

how to budget

if you make it so restrictive that it's just not realistic

you should also need to give yourself a bit of wiggle room in your budget

maybe even give up

learn how to budget the right way… join the day build a better budget bootcamp email course >>> click here to sign up

tracking your budget

once you have a budget in place

instead

there are tools out there such as budget planners

create a debt payoff plan

now that you've got the proper foundation put into place