12 Tips For Women To Get Out of Debt
As posted on www.DebtHelpForWomen.org
Nationwide (July 18, 2012) -- According to federal statistics, more women are in debt now than ever before. This includes women of low-income and high-income statuses. Even worse the average woman in the United States is more than $10,000 in debt, and it will take most of them more than 15 years to pay it off.
Here are effective 12 tips that can help women to reduce and/or eliminate their debt faster:
1) Stop borrowing money - no matter what! If you can't afford to buy something with cash you have now, then don't buy it!
2) Control your spending appetite. Unsubscribe from all shopping catalogs, ignore all TV/radio commercials, and no more window shopping!
3) Call your creditors and negotiate with them for a lower interest rate, and/or negotiate for a lower pay-off settlement. For instance, if you owe $10,000, see if they will accept a one-time payment of $5,000 to settle the balance.
4) Always pay more than the minimum amount due each month. Even just $20 dollars more can make a huge difference in paying off your debt.
5) Inquire if it is possible to transfer all your balances to your credit card with the lowest interest rate.
6) Work on paying off your high interest credit cards or loans first.
7) Make a realistic monthly budget. Purpose every dollar (including some buffer).
8) Track your expenses in a software program like Quicken. Categorize your expenses and report out how much you spent in each category so you can easily spot your problem areas.
9) Praise yourself for every small accomplishment, even if you are paying off debt little by little.
10) Speak to a credit counseling service (like www.DebtHelpForWomen.org) to help work out a plan.
11) Be realistic. If you started accumulating debt three or four years ago, realize that it will probably take you more then three or four years to get out of debt and stay out of debt.
12) Stay focused. Keep you eyes focused on where you will be five (or ten, or fifteen) years from now, because getting out of debt takes time.
The Debt Help For Women Program is a unique program that has helped over 5 million people find solutions to their debt problems. For a free debt consultation, visit www.DebtHelpForWomen.org or call (888) 235-7939.
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