Most people in this country look towards lenders and banks when availability of ready money seems like too much to ask. Sometimes, our debts keep on accumulating and eventually become this huge ball of high-interest unpaid loans that we must get rid of as soon as possible. Unless you’ve found yourself brushing up with the mafia, it is unlikely that you are in extreme danger, this is why just clear your head try to work through your debt situation by tallying your ideas with our list of some methods that you help you in becoming completely debt free. 

Stick to Your Budget

Set out a carefully calculated budget for yourself and your family and try your best to not exceed that budget in any given month. Put the rest of the money in your savings which you will use to pay off your debt. 

Debt Advisor

A great way to work yourself out of your little debt situation is by seeking help from a debt advisor. You can look one up in the Yellow Pages or you can use an online service like Face the Red. These services are helpful in the sense that they learn about your whole situation and then advise you on how to get out of the problem. They offer tips on how to get rid of the debt, give you loan opportunities or refer you to programs such as the National Relief Program.  

Extra Money

It will be very beneficial for you to start earning some extra cash. You could take up a second job in an office or an online one which you can do while you stay at home, you can totally quit them once you are debt free and in the financial standing that you want to be in. 

Sometimes extra money also comes in the form of tax refunds or bonuses. Try to limit the expenditure on a new LED TV or golf clubs or something of that sort. Instead, try your best to make that extra money work towards returning the debts you have accumulated one by one.


Make a list of all the debt that you owe to people and pick out the most important debts that must be paid off. It could be someone who has been waiting for you to pay off for a long time or someone else in dire need. If you pay off these larger and more serious debts first, it will be much easier for you to concentrate on paying off the debt you have accumulated on the less serious individuals.


Lastly, you can communicate with the lenders and implore them to lower the interest rates on your debt somehow. This is not a surefire plan but it is certainly worth a try on your end as many often a time the lenders who hear your plea and then lower down the interest rate. At this point in time, each percent of interest on the loan counts.

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