How to Deal with Debt

Everyone loves a quick fix but when it comes to debt ‘easy ways out’ can often lead to disaster. While winning the Lotto would be fantastic, it’s a somewhat unrealistic solution, so for now let’s forget that option.

Another pitfall to avoid is loan sharks who promise they’ll clear your debt with the wave of a magic wand. This wand can be loaded with outrageously high interest rates that will ultimately get you further into debt.

What is needed is a sensible, planned approach that can be executed over a period of time. Keep in mind that if you can’t increase your income you should decrease your spending. You may need to save one month to pay the next month’s bills.