Even with a good job, it can seem impossible to make more than a small dent in your debt. If you have a lot of debt and you want to get most or all of it taken care of as quickly as possible, you will need to make some major changes. The biggest changes that you can make in order to cure your debt are to make more money or decrease your expenses. If you are already doing as much as you can for money making, a decrease in expenses will help you eliminate your debt. Here are some extreme methods of debt eliminating within a year or two.
1. Work with Financial Services.
A company that helps to build your credit and cut your debt is a good advisor during hard times. Instead of dealing with negotiating with your creditors one at a time, you should allow a professional financial firm like Vantage Acceptance to do this for you. Arrange an agreement to pay your financial service firm a check monthly and let them use the money to pay off your debts. This will cut down on your anxiety, which will give you the chance to focus on de-stressing during your financial pinch.
2. Look into Vehicle Living.
Living out of your car may not be ideal but it can be much more comfortable than you assume. There are a number of different parking areas that permit those who live in their vehicles to stay safe and with facilities available. Living inside of your car drops your living bills down to your car payment and upkeep. Any extra cash that you would use for rent, you can use to cure your debt. If you plan to try vehicle living, get window covers for the car and bedding for the back seat that will make your car easier to sleep in. You may also want to invest in a minivan so that you can place a foam mattress in the back solely for sleeping.
3. Cut Out All Services.
One challenge that you can do for a year is cutting out all unnecessary services costs. This means hair, nails, spa services, membership services, cable, and all extras. By cutting everything down to a bare bones budget, you will be able to save money without truly going without. During this time, attempt to find ways to barter for the services that you desire or perform them yourself. Living without haircuts for a year will help you find a way to cut your own hair and or show you that growing your hair out isn't so bad. Paying off tens of thousands in debt this way may also motivate you to make permanent budget changes.