You may have started the holiday season with the best intentions. Maybe you drafted a budget, cut down expenses, and asked your family members to cost-share holiday expenses. But despite your best efforts, you still ended up over-swiping your credit card and taking a salary advance. Don’t beat yourself up, it happens to the best of us. Still, as 2018 begins, it might help to break off unhelpful habits. The trick is not to judge yourself. Guilt leads to self-loathing, which might have you splurging on comfort food and pampering to make yourself feel better. Start with a positive outlook and work from there.
Make a plan to pay what you owe
The first step is to figure out how much you owe. You’re probably clear on what you borrowed, but in your eagerness to find urgent cash, you may have overlooked the fine print or underestimated interest rates. Review your documents and terms and calculate the exact amount of your debt. If necessary, ask an accountant or lawyer to help you work out accurate figures. If you can, find one that is a friend or family member. They’re less likely to charge you, which won’t dig you even deeper into debt. Once you know the amount, you can consult a debt manager to help you structure a workable repayment plan.
Contact One Debt today
A good debt manager will arrange for minimal payments spread out over a reasonable period. This allows you to repay your debts while still living a comfortable lifestyle. The plan will leave you enough cash to pay your bills and buy necessities. Here at One Debt, we are confident that we can help you get back on track. Give us a call to find out how our ten-step plan can help you get back on track. But even as you clear your debts, cut costs where you can. You can do this by distinguishing your financial needs from your luxuries and setting some money aside for savings every month. For assistance in avoiding and tackling debt in 2018, call One Debt today.