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Simple Ways To Pay Off Your Debts

Simple Ways To Pay Off Your Debts / Blog Simplicity in Vogue / @ByAndreaB - Finances, savings, money, how to save money

Debt is a word we never want to hear associated with us and the idea of ever getting into debt can be a scary concept for us to think about. However, there are times in our life when we have no choice but to let ourselves get into debt in order to pay off student loans, to buy a house or to pay for other important parts of our lives. If you have found yourself in debt this year and you don’t know what the best way to deal with it will be, here are some simple ways to pay off debts.

Look at your options

First of all, you will need to step back for a second and look at the debt you have and what your options are when it comes to dealing with it. For example, if you are in a huge amount of debt and you need to pool them all into an easy payment, you can look at debt consolidation loan rates to make everything merge into one. Make sure you talk to professionals and do your research because there are always things you can do to make paying off debts easier. You don’t have to face this alone, people are willing to help you.

Simple Ways To Pay Off Your Debts / Blog Simplicity in Vogue / @ByAndreaB - Finances, savings, money, how to save money

Stop buying unnecessary things

We know it’s tempting when you see a pair of amazing heels online to buy them straight away, and it can make you feel really happy when a new item comes through the post for you….however, it isn’t necessary. Resisting the urge to shop is difficult but it is the best way you can keep your finances in check and the best way to save extra money which can be used to pay off your debts. If you can manage it for a few months or years until you are debt free, then you can go and buy as many new items as you want!

Start from big to small

When it comes to dealing with multiple debts, you always need to start from the biggest and work your way down to the smallest. Bigger debts will often accrue interest a lot quicker and this will mean that you have to pay back so much more than you originally thought. Make sure that you always start big and work your way down to the smallest and this will reduce the amount of money you need to pay back.

Put away what you can each month

If you are able to do so, always make the effort to put away a small amount of money into your savings when you get paid. Putting away money and allowing the interest to accumulate can really make a massive difference to your finances and your ability to pay back your debts in good time.

Simple Ways To Pay Off Your Debts / Blog Simplicity in Vogue / @ByAndreaB - Finances, savings, money, how to save money

Ask for help

If in doubt, ask for help. You have family, friends and professionals who are there by your side at every stage in your life and they will always be willing to help you out. You can ask for your family to help you out, you can ask for advice from professionals and you can even ask the lender to come up with a new payment plan which will make it easier for you to pay it back.

I would love to hear from you in the comments!

See you soon! :)

xx,
Andrea

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Disclosure: Please note that this post may have affiliate links. Any products listed or reviews and opinions are as always of my own and true to how I feel. For PR and media enquiries please email andrea@simplicityinvogue.com

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