What do we do if we find ourselves in debt?

In this article we explore a practical step by step guide to eliminate debt that has built up over time. The process begins with creating and following a budget and then applying money saved in a systematic way toward the debt until it is paid off. Here are some basic steps to consider.

1.             Make the decision to get out of debt and use a budget.
2.             Create a budget and plan.
3.             Follow your budget and plan.
4.             Identify your spending habits.
5.             Monitor expenses and decide how money can be saved.
6.             List all debt.
7.             Prioritize and determine which debt to pay down first.
8.             Use money set aside to begin paying toward debt.
9.             Don’t stop here!  Eliminate debt and work towards lifelong goals.

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