The Ultimate Checklist to Get Out of Debt!

Getting into debt can be a rather intimidating situation to find yourself in. Sometimes, it can seem like you’ll never work your way back into the black. But not to worry, there are certain things that you can do to help yourself along the way. Here’s the ultimate checklist to work your way out of debt!

Check Your Credit Score

Surprisingly, there are many people who have never taken a look at their credit score! There are various reasons that you should keep an eye on yours. Firstly, it allows you to see where you stand in regards to your overall financial health. You can also keep your credit in good shape, and you will have a good idea as to whether your credit applications will be successful or not. Until recently, you’d have to sign up for an account, subscribing and paying to take a look at your personal credit rating. The good news is that nowadays there are various services that will allow you to check your personal credit score for free.

Consolidate Your Debts

Debt consolidation is essentially the act of negotiating a loan that will be used to pay off several existing loans. These usually include outstanding credit card balances. Now, there are various reasons that you may want to consider doing this. The first: to save money. When you’re trying to keep on top of numerous debts, you can often end up missing repayment dates and will land yourself with fees and fines. Your consolidation debt may also have a lower overall interest rate than your existing debts. Take a look at debt consolidation loans for bad credit to see what’s available to you.

Do a Balance Transfer

If you have more than one credit card, but the idea of a consolidation loan doesn’t appeal to you, you might want to consider a balance transfer. The process involves all of your debts from one credit card to another. Sure, this may seem pointless, but many cards offer interest-free balance transfers so you can save yourself from paying interest for an allotted period of time. This means you can focus on clearing your debts rather than simply meeting interest repayments.

Close Unused Accounts

As you start clearing your accounts, you’re likely to want to reduce your credit usage in general. If you want to ensure that you don’t continue to dip into your credit allowance again, you can always close your unused accounts. Simply phone up your issuer, they will be able to cancel things over the phone. If you do leave your account unused, your credit issuer may take matters into their own hands and close your accounts anyway.


We get into debt because we live beyond our means, or spend money that we simply don’t have. So as you begin to rectify the situation, it’s time to start budgeting! Find a complete guide to budgeting here.

These small steps can make all the difference when it comes to working your way out of debt. So get started today!


Understand Debt To Beat It For Good

If you ever find that you end up getting back into debt again and again, you are not alone. Debt has a way of doing this for a lot of people, and it can of course be incredibly frustrating when it happens too often. However, it is usually the case that you can find a way out of this cycle, so long as you approach it in the right way. The most important thing here is to come to terms with and begin to understand your debt in the best way you can. The more that you understand debt, the more likely it is that you can beat it for good. Let’s look at this concept in a little more detail.

The Cycle

For most debtors, there is a fairly predictable cycle which happens time and again. Is usually begins with owing a small amount to an organization or an individual, and then you might borrow more in order to pay that off. Before you know it, you find that you have to keep borrowing more and more. At the same time, the debts you have gain interest along the way, and all of this can lead to a very unfortunate situation with your money. It is good to be able to spot this cycle in its early days, so that you can stop it as soon as possible. This will make a huge difference alone, and is worth doing if you can do it.


Settlement Options

It is important to bear in mind that you are always able to find a settlement option, no matter how bad the debt has become. It might not always seem like it, but it is true, so remember that if you start to worry that you will never pay your debts off in time. If you go to sites such as, you will see that you have many options for helping with your debt settlement, so you really don’t need to worry when it comes to arranging this. As long as you get it arranged as soon as possible, it should be fairly easy to be rid of your debt in no time – or at least faster than you would usually assume.


Another important concept in debt management is knowing which to prioritize over others when you are paying them back. You will find this essential if you want to stop the cycle from continuing and deepening, and it will prove important to know what debts should take the highest priority. In general, you will want to prioritize paying back debts which have a high interest rate or which have been outstanding for a long time. Then you can work on paying back other debts you might have too. Prioritizing in this way will mean that you are able to get rid of your debts in the most logical order, thereby speeding up the process as well.

The more you understand debt, the more likely it is that you can deal with it more effectively – and hopefully beat it for good.


How To Set Up Your Own Service-Based Business

When it comes to setting up your own business, a lot of guides and tips focus on the product you are selling, however, there is a market for setting up a service-based business. Over the course of your life you will have built up skills and knowledge that can help people and provide them with assistance – whether that assistance is for their company or themselves – it would be invaluable to many potential customers. Below are a couple of ideas to help you decide whether a service-based business is the right career path for you and your lifestyle.

Life Coach

If you are someone who just wants to help people reach their true potential, and find a pathway in life that is sustainable and works towards achieving their goals this could be the path for you. It is wise to do your research to find a course near you or look online for a website like that offers an online course to provide you with the qualifications in order to become a Life Coach. Your research will give you some idea of the time and dedication needed to go from your position now, to launching your business. That being said, the time and money put into training will definitely be worth it when your first client is has achieved all the goals that you both set in place. Becoming a Life Coach will allow you to create your own schedule and have a career that is flexible to fit around your lifestyle.


Private Recruitment Consultant

If you have a background in sales, or just think that sales could be the right market for you, recruitment could be a good fit for your career. You could work for an established company from home, or you could set up as a solo consultant, however all your income would then be based solely on commission. As with all service-based businesses, you will need to be able to network effectively, but you will have to sell your services to two separate customers; the client (the company who is looking for staff) and the candidate (the person looking for a job). Your task will be to create strong working relationships from scratch with a variety of companies. It’s good to specialize in a particular sector to help you gain better traction and credibility too. This job is not for the faint of heart though; you will have to work long hours in order to meet your objectives. During office hours you will be busy with client meetings and preparing your candidates for interview, but outside of office hours, you may have to make calls to seek out potential new candidates for roles you have to fill. It’s a long process, and people can be tricky, letting you down at the last minute. But if you can stick it out to build up a good network and reputation, the earning potential is amazing.

Hopefully, this has given you some food for thought on how you can set up your own service-based business and change your career path to something that suits you. Create a career that inspires you every day, helps you feel accomplished, and makes you happy – and you’ll be set for life.