The Big Wide (Expensive) World: Paying Your First Lot Of Debt

February 5, 2018 5:50 pm

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The concept of life as we know it revolves around that one important item, money. When we venture into the adult world, either fresh out of college, or we have moved out of our parents’ house (finally), the feeling of being in over our heads is par for the course. But that feeling of freedom, and having to enter the working world, and getting paid on a weekly or monthly basis, makes you feel like you’ve got a disposable income. But, as the months roll by, and the meals out get more and more expensive, you end up with a mountain of debt to pay. So, how can we make sure we tackle this debt without it having a major impact on the life we so enjoy?

Pay The Credit Card Bill Every Month

The problem with having a credit card is that it feels like free money. This is not the best attitude to have, that it’s certainly a way to get you out of a jam. But, you shouldn’t place an over-reliance on using the card to get you out of little problems. If you have found yourself deep in debt due to overspending on a credit card, there are options for you. You could get a personal loan to cover everything, but you need to be aware of the best loan for you. Getting a personal loan is a good choice, depending on if you know the repayment amounts and the best personal loan interest rates for your money. Pay the credit card bill when it comes, and you’ve got something to bail you out if you really do have a problem. A fashion emergency doesn’t count as a problem by the way!

Curb Your Monday To Friday Lifestyle

If you enjoy going out for meals and being social, it’s is probably impossible for you to keep that up while buying lunch and breakfast (and coffees) everyday when you’re in work. Instead, you should think about living within your means, or using the funds you have to put towards a good quality weekend, but live like a pauper during the week. That’s not to be you should go without foods and the essentials, but you can instead make some lifestyle choices so that you can conserve money. Instead of buying that coffee everyday on the way into the office, take your own in. It doesn’t have to be cheap quality coffee either, if you are used to the finer brands, a pack of a high quality brand is going to be around the same price as the grande macchiato you buy anyway! Sometimes we all need that comfort of a coffee while you’re on a lunch break, just make it a treat once in a while rather than something you do everyday. And while you shouldn’t go without food, learning how to cook a meal that is nourishing, healthy, and you can portion up or put in the freezer is a big lifesaver!

When we do get a bit of debt at the beginning of our working life, it can panic us, but by paying off the minimum balance of your credit card, in combination with a frugal but fulfilling lifestyle, you can still do all the things you want to do.

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