When people discuss reducing their debts the main thing that they think about is how to reduce the credit card bills and pay off their loans, the more important questions are "How to do it?" and "How to get it done quicker?". The more important questions that need answering are "Do I really need...?"

Looking at your situation and reducing what you pay out each month will help you pay off your debts much quicker and help you get rid of that sinking feeling that gets worse and worse the more you get into debt. Believe it or not by answering a few simple questions and changing the way you do things will help you eliminate your debts in next to no time at all.

Questions you need to ask yourself:

Do I need to eat out as often as I do?
Do I need to buy brand name all the time?
Do I need ALL the TV stations?
Do I need to make that call from my Cell Phone?
Do I need to drive to the shop or to work?
Do I need to have a platinum gym membership?

 

If you look at each of these then you can in no time at all reduce your debts very quickly. Lets take a look now and see how much you could be saving and the extra you could be paying off of your debts.

Do I need to eat out as often as I do? Most people don't realize that they are capable of saving money by eating at home. If you take a lunch with you to work you could save on average $180 per month!

Do I need to buy brand name all the time? This doesn't just mean clothes it means at the supermarket as well. If you think about the brands you overlook because they are the Supermarkets own brands on things that you really don't care that much about. Butter, milk and washing powder all of which could save you money. If you shop for the cheaper brands you can reduce your shopping bill by around $12 a week that is another $48 a month on average.

Do I need ALL the TV stations? Lets face facts you could probably get away with not having the biggest Cable package because it gives you a channel that you might watch every now and again, errr NO! You could be saving $25 a month on your cable TV deal by going for a reduced package.

Do I need to make that call from my Cell Phone? Why can those calls not wait 911 is free and the break down services should be the only calls that are completely necessary to make from your Cell Phone. Not making that text message to enter that competition. Not making that call to your pal to talk about what a great weekend you had. Hard going? Think you could save $50 a month in calls, not as tough now is it?

 

Do I need to drive to the shop or to work? Unless you live miles away from the nearest shop you could be saving $12 a month in gas going to and from the shops. Or do you live a short drive from work? What would it take for you to get up a little earlier in the morning and walk to work you could save $60 a month in the short trips if you think about it a little.

Do I need my platinum gym membership? NO most gyms offer a number of different packages and as with the cable TV you don't need the best package. If you go to the gym early in the morning you will find that the membership is cheaper, lunchtimes are also cheaper. Why because you want to go when everyone else wants to go. You could cut your member ship by 50% by going off peak times. That is another $35 a month.

So quick sum $35 + $60 + $50 + $24 + $48 + $180 = $397! Now think how quick your credit card bill would reduce if you were paying an EXTRA $397 a month off of it. You can do these things easily and without losing too much of what you do in your day to day life. Small sacrifices will get you out of debt much quicker.