Use a Budget Calculator to Limit Your Spending
If you owe a lot of money, limit how much more debt you pile on. Use a simple budget calculator to create a spending plan for the month.
Experiment with living not just at your means, but below them. This means cutting expenses and living frugally. See how much you can save by cooking more and eating out less, holding off on travel, cutting out cable TV and even downsizing your home if you have the flexibility to move.
This might not be easy, but living frugally doesn’t mean never having fun. Get creative and find ways to enjoy life for less. Debt management might be challenging but it doesn’t have to be boring!
Invite friends over for a potluck dinner instead of meeting them at a pricey restaurant, or take a staycation and explore low-cost activities in your town instead of booking expensive flights. And if you’re struggling to choose the inexpensive options over the pricey ones, just ask yourself: How much faster will I pay off my debt if I can save an extra $200 a month to put toward that balance?