Debt is all too common in the United States. The average U.S. household with debt carries $15,355 in credit card debt alone and a whopping $129,579 in total debt.
These numbers are staggering, but unfortunately not all that surprising because debt is all too easy to acquire. Do you need help managing debt? Here are some quick and easy professional debt management hacks.
Make a shopping list, and stick to it
It is all too easy to go grocery shopping on an empty stomach and buy everything in sight, or to go overboard with holiday shopping. To avoid racking up credit card debt and having to go into debt consolidation management, create a shopping list before you go into the store and stick to it no matter what. Those impulsive purchases add up rather quickly.
Always have cash
It is the oldest trick in the book, but it has been proven to be successful. Pay only in cash and you will easily be able to keep your spending in check.
Turn off those subscription services
We’re talking about Netflix, Amazon prime, subscription boxes, and the gym. Take one month off from these services to see how much you really use them. During that month take into account if you used them as often as you should to justify the price. You will be surprised how many of these purchases are unnecessary, and just how much money you can save when you need help managing debt.
Unsubscribe from emails
Take yourself off all store email subscriptions immediately. These emails will send you exciting offers on sales that can be hard to pass up, especially if you tell yourself you’re actually saving money. Resist the temptation by simply going through your inbox and unsubscribing one by one.
Sign up for credit card alerts
Some credit card companies offer the ability to sign up for alerts that let you know when you are about to purchase something expensive. The banks also send warnings when you are coming close to hitting your credit limit and can remind you when to pay your credit card bill.
Don’t be afraid to reach out
There are plenty of debt relief options available to you if you have the courage to ask. Know you are not alone, and with professional help you will be able to take charge of your debt slowly but surely.
Need help managing your debt? Contact one of our professionals at The Debt Management Group today.