Debt Advice

Create realistic monthly budget

List all monthly bills and necessities and write them down. Make sure they are covered with your monthly income. Only allow additional money to be spent elsewhere. Create a realistic budget and stick to it!

Prioritize your debts

Pay off the smallest debt with the higher interest rates first. It may even pay off to eliminate an entire balance in one month then you will have more to contribute on higher/lower interest rate debt.

Cut down on expenses

Cut down on discretionary expenses including dining out, overusing cell phone, and unnecessary use of utilities (leaving light on when not in the room).

Evaluate living situation

Your housing cost shouldn't be no more than 33 percent of your household income. Shop around for lower insurance rates, consider refinancing your home, and look for more economical utility plans.

Contact creditors and try to work out repayment plans

Many creditors will work with you on the repayment of your loans. It's possible to lower monthly payments or skip months when needed.

Shop smart

Become a savvy shopper. When purchasing anything be on the lookout for deals, coupons, bargains. Many times you can find coupons for various things online.

Study success

Read as much as possible about getting and staying out of debt.

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