Frugal Your Way Out of Debt

clothes pinsPeople have gotten into debt for a variety of reasons. Some is due to their own fault while others aquired the debt from circumstances beyond their control. While it’s important to understand why you got into debt so that you can take the necessary steps so that it doesn’t happen again, the fact is that there is really only one thing you can do to free yourself from it: Pay it off. Here are 10 tips I’ve used in finding extra cash to pay down more than $10,000 in credit card and auto loan debt in just over 18 months.

Wash some savings from your utility bill

Wash your clothes less often. Really. I got in the habit of wearing my clothes once, and throwing them in the wash. T


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6 Responses to Frugal Your Way Out of Debt

  1. Energy Wholesaler says:

    this is an excellent post, many people are in debt for a variety of reasons. and one way of getting yourself out faster is to reduce your overheads so that you can have more disposable income to release the slack or to pay the debts off quicker.

    it has already been mentioned what can be done and my website is one such service which operates to help in this particulare area.

    shop around for the best deals regularly in the utility market, such as gas, electricity and mobile phone services and you should give yourself and instant payrise and and excellent cost free investment over the long term.

  2. Uncommonadvice says:

    Everyone in the US and the UK needs to start taking heed of lists such as this – no matter your current situation. Recession is around the corner!

  3. I love this post. We should all be more frugal so we can actually save the money we hard for. Good post!

  4. Gail says:

    Very good post although I don’t agree with you on the theory that using a dishwasher uses less water than washing dishes by hand. That has been heavily debated in the SavingsAdvice Forum.

  5. Topwaystosave says:

    In order to save money some people need a total change in mindset. Too many people get a raise and go out and buy something to celebrate. They get a tax rebate and go buy a newer or bigger tv. There is nothing wrong with spending of course, but its over spending and careless spending which is getting too many people in trouble.

  6. pinkey says:

    I always tell people that getting out of debt is a lot like dieting. There are no easy one-step solutions, but if you make a lot of little changes, you’ll be surprised at how they add up. I, for instance, now always use a calculator while I’m at the grocery store. It helps me stick to my budget, and also has the added benefit of helping me catch improperly priced items if I notice the total being way off from my calculation.

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