Obtaining debt relief can get very difficult for people who are unemployed. Most people have failed to handle the crises while being employed and having good salaries. Just think how they are going to handle credit card debt without a regular income and the peace of mind of a steady job. It is said that when the going gets tough, the tough get going.
So get going to fight this bad spell of misery in your lives. Mind you, at this stage there are no complicated theories and pearls of advice that will help you. Only simple practical steps will come to your rescue. As a golden rule follow the three guiding principles outlined here;
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? Cut down your expenditure.
? Look for additional income.
? Manage your finances better.
These three simple rules could take you the extra mile towards a debt free life. Loss of regular income can be fought only by generating additional income. Expenditure cut down is money saved. Look for ways and means to cut down your expenditure:
? Make a monthly budget and stick to it.
? Cut down your luxuries.
? Look for "Do it Yourself" opportunities to save on your expenses.
? Buy during happy hours and sales.
? Go in for new and upcoming brands.
? Use technology to save money, Buy from online stores where stuff is cheaper.
The next rule is to look for additional income. There are income opportunities galore. Look for odd jobs. You could deliver pizzas and burger, mow lawns, baby sit or just about do any odd job that comes your way. Use this income to clear your debt.
It will do wonders to eliminating your debt.
Finally, manage your debt better. You may be having five to six credit cards. Consolidate the debt under one head. Go in for a consolidation loan if required. Making one monthly payment will be more orderly and manageable.
If you follow these rules, even unemployment can not prevent you from going in for debt relief.
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