With the happiness of the holidays also comes the stress of the debt that follows. We spend hundreds and hundreds of dollars for the people that we love, but all that overspending can cause problems that have us reaching for a title pawn for some relief. So, what do we do now?
After the holidays are over and the Christmas joy has come and gone, it's time to get back on our feet. Here are tips to getting yourself out of December debt just in time for the New Year.
Even though they're gifts and you don't want to “take them back”, you may want to reconsider to kick the Christmas debt. If you received some gift cards that you can do without, just sell them!
There are many sites that let you do this, such as Giftcard Granny. You can post your gift cards, wait for someone to make the purchase, get cash for your card, and be able to use this money to pay off your debts.
Try to place a limit on your monthly non-essential spending. This would include your morning coffee runs, going out to dinner, or even shopping for a new pair of shoes. If you typically spend about $500 per month in this type of spending, try to cut it in half.
This will give you back $250 to use for paying down your debts. This may be a lot to ask, but there are ways to compensate for what you're giving up.
If you are sacrificing morning coffee runs and eating out, make your coffee and lunch for work at home. This can save you hundreds of dollars each month without you even realizing it!
Many of us have tons of subscriptions that we probably don't use often enough to justify the expense. If you have a gym membership, you may be paying over $20 per month on something that you can do from home. Cancel your membership and workout from home instead.
Websites like Youtube have thousands of free workout videos for you to follow from your own living room. You may also be paying each month for apps on your cell phone, such as Spotify, but this app offers a free version. The only major difference is that the paid app does not have ads. The ads can be pesky, but are they really worth the extra $10 per month?
Believe it or not, there is a loan option that can help you get out of debt and pay your bills on time. Just search "affordable auto title pawns" to find a reputable lender near you. This type of loan allows you to access the value of your vehicle and lets you keep on driving it while you make your payments, and it could give you quick cash in order to pay your bills and debts on time. By ensuring your expenses are paid on time, you'll eliminate debts while also helping to build up your credit score.