Eradicating your debts on your own terms – Taking your own financial responsibilities

Eradicating debts on your own

Credit Card Management & Consultant

Getting out of your high interest unsecured debt and staying out of debt is not an easy task. Chances are high that if you’ve misused your personal finances and your credit cards, you must have amassed a huge amount of credit card debt. Whipping your plastics during every little purchase is not the way to go if you want to remain financially fit throughout the year. But as most Americans are not much concerned about their finances, they commit the same mistake time and again. It is easy to get out of debt by seeking help of professional debt relief companies and by taking your own financial responsibilities. Have a look at some do-it-yourself steps to get back a firm grip on your finances.

  • Stop increasing your credit card debt: You must be aware that credit cards may seem to be attractive options to fulfil your dreams when you’re running short of money. Credit cards are the actual reason for the entire debt burden throughout America and therefore you have to make sure that you use cash instead of credit while buying things. The more you use your credit cards, the more you will drown yourself in a sea of debt. Lock your cards and carry cash with you.


  • Keep a track on your expenses: The idea of writing down what you spend is a concept that may sound baseless to most people but this is a worthy concept of dealing with your debts. Write down on pen and paper the amount of dollars you earn in a particular month and the amount that you spend from it. Avoid more debt by staying within your spending limit and by following a frugal budget. Try to distinguish between needs and wants and concentrate only on the wants.
  • Negotiate with your creditors: You can negotiate with your creditors on your own instead of getting help from professional debt help companies. If you feel that the professional companies can only help the debtors pay off their debts, you’re grossly mistaken. You can also negotiate with your creditors on your own and tell them about your personal financial hardship.


  • Start making the monthly payments: As soon as you negotiate with your creditors, they will ask you to make a single monthly payment to them. Make sure you manage your personal finances so that you don’t fall back on the monthly payments and hurt your credit score. If you make the monthly payments on time, you can get out of debt sooner and become debt free.

Thus, if you want to delete your financial worries, you must make sure you follow the tips mentioned above. It is always better to manage your finances on your own than rush to professional companies for help.