Getting Out Of Debt: The First Steps To Take

Being in debt can be truly exhausting. You’re constantly worrying about letters dropping onto your doormat and emails reminding you of payments that you owe. Whether your debt happened suddenly due to a bad financial decision, or you’ve slowly mounted up a large amount of debt, there are steps you can take to begin tackling it so that not only do your stress levels drop, but you can take control over your finances once and for all. Here are the first steps you should take when trying to get out of debt.


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Understand how it happened

The first step to eliminating your debts is by understanding and taking ownership of the fact that you’re in debt. Look at your bank statements and see what your spending habits are like. Once you can see where you began spiralling downwards, you can accept it and move onto the next step.

Obtain legal advice

Debt can sometimes completely consume your life, and knowing where to start is sometimes the hardest part. Obtaining legal advice from law firms like Rockwell Legal Group will help clear your mind about your main objectives. They can also provide you with advice about debt consolidation and if necessary, bankruptcy.

Eliminate unnecessary expenditure

Something that everyone should do, regardless of their financial status is eliminate unnecessary expenditures. Again, go through your bank statement to try and find any expenditures that you might not need or want anymore such as impulse magazine subscriptions or unused gym memberships. Even if this is a temporary elimination, it will free up money in your bank to help pay off your debts. You may even find you’re still paying for something that you’d long forgotten about, so it’s worth taking the time to understand what’s coming out of your bank, and when.

Sleep on large financial decisions

There will always come a time in life where you have to make large purchases. For instance, if an appliance breaks down or your car needs repairs, you’ll have no choice but to spend the money. However, if you’re able to make do without a particular appliance or your car until you’ve saved the money, then that would be a wiser financial decision. Before dipping into your pocket take the time to really think about your purchases, and sleep on it before making a final decision. This will help prevent you from making impulse purchases and keep your finances on the right track.

Speak to your utility providers

Finally, when you’re behind on payments for your utilities, it’s likely they’re emailing and posting letters to you to collect payment. Take the time to call them and tell them about the financial difficulties you’re having. They will be able to do a number of things to help from granting you a gracious period to pay off what you owe to setting up a payment plan to slowly pay back your debt.

As you can see, getting out of debt doesn’t have to be a difficult process. Take the time to make clever decisions towards your finances and you’ll soon begin to notice your debt clearing!

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Earle Dutton

Earle Dutton

Earle Dutton is the Chief Blogger and Editor of He founded in 2013 to provide information about LGBTQ friendly events of interest, and to support LGBTQ entertainers and supportive artists who visit our community. Earle is a successful businessman in the Pacific Northwest with a long history of support for and involvement in, the Northwest LGBTQ community. His personal interests include: music, theater, pets, culinary arts and technology.

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