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Digital News Report – New Year’s resolutions are many peoples mind as we begin 2011. According to USA.gov website, managing debt is one of the top 10 New Year’s resolution that people make. There is good reason for this as debt has a way of taking over especially after the Christmas holidays are over and the credit card bills arrive. So in order to achieve this New Year’s Resolution the best way is to set up a get out of debt plan for 2011.
You can get out of debt alone, or you can seek the help of a professional debt management company or credit counseling service to get you on your way to becoming debt free. If you chose the do-it-yourself method, you will want to research about budgeting and know all your debts and interest rates and how to budget your monthly expenses. This can be an overwhelming endeavor and that is why a professional credit counseling service or debt management company could be worth seeking for help. These companies have experience with dealing with debt and may make the process less stressful.
To keep you motivated write down your goal of becoming debt free. Seek out success stories of others that have become debt free. Tell your family your financial problem or seek out a support group to make sure that keep on track. Your problem may be a shopping addiction and you might need to get psychological counseling so that you won’t continue to fall into the debt trap.
Remember that getting out of debt often requires changing your spending habits. You can learn new ways of doing things and find inexpensive alternatives to your habits. This may include coupon clipping or buying things used. You might moonlight to earn a few extra dollars to help pay off the debt.
The reality is it isn’t easy to get out of debt fast, but if you make a solid plan and stick with it you could become debt free. Next year you might be celebrating your accomplishments of getting out of debt!
By Victoria Brown