Ways to cut the debt

Debt has become a headache for a lot of Americans since the rate of unemployment increased in 2009.Lots of people are in trouble in maintaining their bills and the mounting debt is becoming a burden for them, I just want to suggest some ways to cut out the debt:-

1.Reduce your housing cost:-If you are staying in rent you can opt for the cheaper one. Or if you are staying alone try to share your rent with your roommates,

2.Reduce your traveling expenses:-Don’t always hire a car for traveling; if you owe a car then you can save a lot, still try to use it less so that you can save a lot on fuel.

3.Reduce your Phone bills:-Minimize your phone bills by avoiding chatting over phone, Keep a Check on your phone bills, there are lots of cellular companies in the market choose the cheapest one. If you have landline you can avoid it if its not necessary and cut off the connection.

4.Reduce you luxuries of life:-Try to live moderately prioritizing your necessities of life. I can assure you can save a lot, No need to live a Carrie Bradshaw life.

5.Reduce your internet bills:-Try to save on your internet bills, don’t go on chatting whole night with your friends specially the young generation, if necessary use the cheapest package available in the market.

6.Reduce on Purchase:-It’s not always necessary to go for branded shops and end up paying a handsome amount for the same wardrobe which is available in the streets at low cost. Try to shop in bulk to get discount and bargain.

7.Reduce energy bills:-Try to use less electricity, don’t unnecessary switch on your Ac and T.V. and fall asleep for the whole night. I have seen this habit in many youngsters, Stop this.

8.Reduce your expenses on food:-Try to avoid fast food and if you can cook you own then you can save a lot and also it’s better for your health. Junk food are not always hygiene.

9.Reduce your education expenses:-If you have kids going school let them go public. The Council for American Private Education says that the average cost of private elementary and high school is about $4,689 a year, where public school are free.

10.Reduce cost on your bills:-Last but not the least pay off your bills in time and also save interest and fine. Don’t let them accumulate.

11.Reduce your credit card bills:-Stop using your credit card, this can save you a good amount.

I hope this will definitely help you in not getting into debt and also if you are already in debt then you will be able to come out of it with ease.Make 2010 a Debt free year for you.