OutOfDebtBlog.com

This suggestion probably comes as no surprise to anyone. The surprising thing may be how low down the list it is!

A lot of people struggling with debt will try to increase their income to get on top of their debts - yet at the end of the month - they end up asking “where’s the money?”

This is mainly due to them skipping the previous exercises - and lacking the financial control they provide. They end up spending the extra money made - rather than sticking to their plan of getting out of debt.

When making extra money - such as working overtime, taking on extra work, selling off stuff that you don’t need or want - it is vital that you discipline yourself to spend the money right. This means - using the majority of them to pay off your debts.

I’m not saying that you shouldn’t treat yourself when you can afford it, because sometimes you simply need to do that to keep your motivation up, but on the other hand there’s not much point in treating yourself to something you can not enjoy, because the weight of your debts are keeping you down.

Try to look for ways to increase your income - and keep spending the extra money right. When you need “a lift” to stay motivated, try to think of the amount of extra money you will have to yourself one day - when all your debts are paid off.

Again - this is a subject I’m going to look at in greater detail later on - so I’m not going dwell on it here. Just giving you a taster of what is to come!

Technorati Tags: make more money, Increase income, Debts

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