10 Things To Do When You’re Deep In Debt

Typically, when we think of debt, the last thing that comes to mind is good things. Debt can be such a burden on us that it can even cause relationships to end and careers to go up in smoke.

And as fun, as it would be for our time-traveling friends from the future to print some money and hand it over, unfortunately, that isn’t going to happen anytime soon.

But the good news is that we can still take steps to improve our financial situation .. and thus improve our lives in general. The first thing on our list? Getting rid of debt.

It seems like a no-brainer, but focusing on debts just above the credit line can be difficult when we have so many other shiny objects pulling us in every direction.

So we’ve compiled a list of 10 things to do when you’re deep in debt so that you can get back on track and start taking control of your financial life again.

1. Pay Your Utilities

It doesn’t take long to find yourself in a place where you’ll be thankful you pay your utilities. Homeowners are often one of the first people to fall into debt when the economy slows. But, like everything else in life, it is important to plan and budget for our utilities. If you are constantly paying your bills late, or in some cases never at all, you may find yourself unable to keep up with payments or even qualify for a new account.

2. Get a Better Credit Card

Unfortunately, it’s not always the amount of debt that causes problems. Sometimes, a bad credit rating is due to mistakes made with credit accounts when we were younger or have had so many accounts opened that our credit history is virtually useless.

When in doubt, it’s always best to rent a time machine and go back in time to when you were as young as possible and borrow money from your parents. Knowing where we’re going can help us set goals for ourselves and decide which risks we’re willing to take along the way.

3. Save Money

Crunching numbers can be a little daunting, but if you really want to get rid of debt, budgeting is the way to go. Look at your monthly bills, then work backward to see how much you need to be spending on things…