As soon as the holidays are over, you like millions of others might engage in reducing the debts that you incurred during the holidays due to overspending or lack of funds as cash. After years of discussions and numerous write-ups on debt relief options or techniques many of us have forgotten the very basic ways to keep debts at bay and often resort to the intricate ones offered by professionals.
Staying away of debt or reducing debt isn't a big deal. You just need to plan carefully and walk accordingly. In order to find some shortcuts to debt relief, we often distant ourselves from the basics. Here are 15 basic debt relief ways that we have forgotten.
- Re-shop for auto, life and home insurance to see if you can bring down the premiums and other costs to any extent. This would certainly help you save some and pay towards reducing your debts.
- Drop all unnecessary expenses - such as newspapers, magazine subscriptions, eating out, shopping etc. Anything that is not a necessity should be strictly avoided unless and until you are completely out of debt.
- Try to buy groceries and other necessities in bulk to have good discounts. You can have tremendous savings if you buy stuffs like meat, bread, vegetables, eggs, bread in bulk or for a month's need.
- Downgrade or get rid of completely of your cable package if there are so many channels that you seldom watch or you don't watch TV altogether.
- Packaged cereals are always expensive. You can switch to oatmeal, fruits, eggs etc. Besides bringing some good savings it'd also provide you with more nutritional value.
- Stop hosting all in-house parties if you feel your budget is not permitting or pressurizing you to make huge purchases.
- If you eat out, do away with costly meals. Always try to share large entree or have small appetizers than costly meals. Also, try to skip soft drinks and quench your thirst with water. If possible skip the extras too.
- See if you can trade services with your friends. Perhaps, stuffs like haircutting, babysitting, handyman, photography, car wash, pet-sitting etc.
- Switch off the lights, fans, ACs and thermostats whenever you are not at home. You can just leave the headache and program your thermostat for some savings.
- Do aerobics and free-hand exercises instead of paying hefty monthly fees in gyms. Just walking at an average speed for 1 hour a day can help you reduce 300-350 calories.
- Arrange homemade foods for any party you host at your place. Avoid buying prepared foods from outside.
- Get a part-time or seasonal job to boost your income and use that additional money towards eliminating your debts.
- Disconnect your phone service at home if you have more than one or the bills are burdensome on your pocket.
There might be many other that we are overlooking. Just check them and start your endeavor.