Ask These Girls

I often hear my friends worrying about debt: “how in the world will we be able to get rid of our debt”?

And as one who came to US a few years back with my husband, $95 in my pocket and a suitcase, I can maybe help you with a few ideas. Oh, did I tell you that out family is debt free?

If you have several credit cards with a balance, this is the first place to start. Pay off your lowest amount or your highest rate card first, by doubling your principal every month.

How can you get extra money to pay off that card? Here are just a few ideas:

• take your own lunch to work, instead of buying lunch every day. This can save you about $5/day
• run errands on your way home from work, instead of making a special trip (this will save you gas)
• curb impulse buying by shopping with a full stomach and a list in your hand (yes, this trick will help you stay away from buying junk, when you don’t need it)
• use your library card! Movies, books, music, are all available at your local library, and they are all free, as long as you return them on time
• pay your bills online: not only will you save a stamp, but if may be able to avoid those late fees that snick up on so many of us
• barter with a friend or neighbor: oil change for babysitting, lawn mowing for electric work, etc.
• sell your unwanted clothes, your kids’ old toys, and anything else you need to get rid of on eBay
• use coupons when you shop
• purchase energy saving shower heads: this will save you water, and will increase your water pressure

Of course, there are a lot more ways to save money. Take some time and analyze your spending habits, make a budget, and see where you could cut down on some of your expenditures. You’ll be surprised how much you spend on things you absolutely don’t need.As you work your way through getting out of debt, make sure you celebrate along the way. No, I didn’t say spend money to celebrate, but do acknowledge your accomplishments and reward yourself.

Adriana Copaceanu shares more ways to save money at http://www.busy-moms-online.com