Are you stuck in debt?Don't worry, because there's still hope even when you think that everything's hopeless.
First, if you have lots of credit card - making it easier for you to spend more than what you earn - avoid any temptations. Most financial advisers don't recommend closing your credit card accounts because they help in establishing your credit history but if it's doing you more bad than good, then avoid the temptation. Either destroy those cards, keep them only for extreme emergency services or close your account altogether. Keep the one with the lowest interest rate and close those that require you to pay for annual fees.
Transfer your balances to the card with the lowest interest rate but don't forget to read the fine prints! A colleague of mine ended up paying for transfer charges that's close to what she'll pay to the original credit company for a year just for transferring her balances. Yes, talk about those no-interest for a year offer huh? They have to get their profit somewhere.
Pay off your credit card balances for as much as you can. Don't just settle for the minimum payment and if you can pay off all your balances, do it. Don't spend more than you earn to avoid having nothing left when you pay off your bills. If you earn $3000 a month, don't spend $3500. Budget, budget, budget and don't go overboard in using the money that you don't have yet.
It takes a few sacrifices and great will to overcome temptation but debt relief is a great relief.
