Can You Get Out Of Debt When You Still Need To Spend?

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When it comes to family life worries, being in debt is always going to be one of the worst. Apart
from a family member being sick, that is. You’ll often find that suffering from money woes is
tough. But it doesn’t have to be something that you get used to, or something that completely
spirals out of control. Instead, you just need to take control. So you may have made some
poor financial decisions in the past, but you can correct those moving forwards. The best part
of all is that this doesn’t have to feel like hard work, it’s something that you can realistically


A lot of the time, people feel like they can’t reduce down their debt because life goes on and
they have bills to pay. But that’s not necessarily true. At the same time, you don’t have to cut
down on all of your luxuries and go cold turkey to do it either. Instead, you just need to be smart
and find a healthy balance that fits with your family life. To do this, you need to work on four
different areas. So, to help you get started and find your own rhythm with balancing your debts
and living your life, here’s what you need to do.


Getting To Know Your Debts


It’s never going to be easy to get out of debt when you don’t really know what debt you’re in. So
the first port of calling to making this happen, is getting to know your debt.


Write It All Down


This may sound like a long and complex way to get started, but it really is the best way to help
you figure out what to do. By getting all of the information you need together, and writing
down everything you owe, you’ll be able to get to know your debts better. You may not
want to see how deep the debt goes, but if you’re going to make a change, this is the best
way to do it.


Speak To Your Providers


From here, you’re going to want to take the first steps towards changing your situation.
And that’s trying to minimize the damage if you can. So speak to your credit card or loan
issuers. They will want to help you. Sometimes they can freeze interest and chargers
for you, or at least offer you a much better rate, just to help you out. You may even want
to consolidate what you have so it’s all in one play under one set rate.


Work Out Your Payments


Finally, you’re going to want to make sure you work out what you can start paying off.
Even if you’ve paid off bits here and there up until now, it’s time to come up with
a debt repayment plan. You need to work out how you’re going to pay it all off, with
set payments, and in what order you’re going to do it.



Bringing Down Your Expenses


You won’t always be able to throw every penny you have into paying off your debts.
Because in life, we all still have bills. So let’s take a look at what you can do to manage them better.


Cut & Control


The first step in this section is to go through everything that you pay out. And a lot of the time
, you’ll actually be surprised by what you’re paying out. When you’ve worked out what you have,
you can start to cut. And you’ll always be able to cut your monthly expenses in some way or
another. The best way is to remove everything that you don’t need so that you can get better
control of what goes out.


Shop Around


From here, you’re really going to want to make sure that you shop around for your bills – and
yes, this is definitely something you can do. You should look for better deals on your monthly
contracts and utilities, and be sure to compare prices for everything you buy, even groceries.


Buy On A Budget


Of course, as we’ve already established, you are still going to need to spend your money.
Going cold turkey won’t work for everyone, and it’s not always possible either. But you still want
to make sure, by using sites such as, that you’re getting
the best price for what you need. Anything that you can get as a deal or with a coupon, is going
to be great for you here.



Sticking To A System


When you have a system in place to help you pay everything off, you’ll have a much better
chance of staying on track. So let’s take a look at exactly what this should involve.


Have Set Payment Dates


Your need to take this entire process seriously, and getting into a routine with it is the simplest
way to do that – and make sure that you stick to it. So this will mean that you should have set
payment dates or days that you pay money off. Whether it’s the first of the month, the last day
of the month, or every Friday, you should pay off your set amounts on these set days to stay
on track.


Only Buy What You’ve Budgeted For


On the flipside, when it comes to spending, you really need to make sure that you only
make planned purchases. To do this, you need to create a budget like
By planning in your purchases, you’ll be making the most of your money, and ensure that
you don’t get into further debt.


Anything Else Is A Bonus


Then, you need to see any money that you have left over from your budget (in which your
debt payments should be included), you can then choose to use that to pay off more if you
like. Because if you can pay off your debts early, it will make you feel better.



Being Realistic


By this, we mean with just about everything. From how long this is going to take you to
how you live your life, here’s how to make sure you’re realistic.


With How Long It Will Take


When you realize just how much debt you have, or you’re just eager to get it paid off as soon
as you can, you could start to get unrealistic about what you’re dealing with. But it’s important
that you understand how long it will take you to pay everything off. Whether it’s months or
years, you need to work this out in your payment plan and know that it’s very real. From
there, you’ll then be able to leave it in the back of your mind and just work towards making it


With How Much You Spend


If you got into debt in the first place because of reckless spending, then you’re really going to
want to get realistic with your spending. You need to set those budgets and stick to them to
the tee. Tracking your spending and saving it all in a spreadsheet may help you here.


With Your Lifestyle Choices


Finally, you then need to do the same with the lifestyle choices that you make. Living within
your means is very important when it comes to both getting out of debt and then staying out of
debt too. If you need to change your lifestyle to make this happen, then this is a very real
decision that you will need to make. Because you can still spend money when you’re trying
to get out of debt, but you still have to be careful.
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