What are some good ways to pay off debt and save money?
Cy99 asked:
I am a single parent who does not receive child support. My credit has gotten out of hand and I want to improve my credit rating. After each paycheck I have little money left over and I live on a very tight budget. What can I do to improve my credit rating, pay off some debt, and save money?
Lisa
I am a single parent who does not receive child support. My credit has gotten out of hand and I want to improve my credit rating. After each paycheck I have little money left over and I live on a very tight budget. What can I do to improve my credit rating, pay off some debt, and save money?
Lisa
Greg
Make an excel document laying out everything that you spend in different areas, then create goals. It is pretty amazing how much just seeing where your money is going can help you save.
Cecil
There is a great plan out there that my wife and I ran across. It has helped us out tremendously. Pick up a book called the Total Money Makeover by Dave Ramsey. He has put together a simple, logical, easy to understand plan that works. It is nothing more than the advice your grandparents would have given you but just by reading this book you get so pumped up it is amazing. I read the book in a day and was shocked at the stark realities of finance I did not know before. My wife read it as well and we both felt like someone hit us square in the face. Yes, we were stupid with our money. We have been on the plan for 13 months and we have paid off 20k in debt. Both cars are paid off, All credit cards are paid off and we have 1 more thing to go and we will be debt free. We have an account for christmas this year and will not be putting anything on a credit card again, EVER. We have finally seen the light where personal finance is concerned and it is wonderful. With no car and credit card payments every month, we have a lot of cash to work with every month. The hardest thing to do is to change yourself, but you gotta start somewhere, sometime.
Dave is a little bit of a religious guy. I do not know what your religious persuasion is and do not care. If you can read past that into what his plan really teaches you to do, you will wind up a huge winner. There is no selling stuff or online surveys or anything stupid like that. If you do not want to invest the $20 or so dollars in his book, grab it out of the library. This will change you life. I know it has given my wife and I great peace to finally be getting our house in order financially. Good luck. It will be the best, most valuable book you have ever read. You can do it. If we can turn our lives around, anyone can.
Harold
Yes, Dave Ramsey. HIGHLY recommended!
And no, we aren’t selling anything. Do your own research.
Edna
If you have debt, check out this site and they can cut your debt in half with the creditors.