Everyone seems to be deluged with the amount of ever increasing bills and payments. They have a tendency to become overwhelming and actions take on a knee-jerk response, resulting in a sense of frustration and mounting anxiety. There are ways to take a fresh look that can transition the stress so that it changes to something that can be overcome.

A first step is in getting a full picture overview

Write Everything Down

A first step is in getting a full picture overview. This requires that you make a complete list of everything that is involved in two segments. Separate the standard expenses that are required on a monthly basis for regular living: rent, mortgage, utilities, food, gas, etc. The second segment are the outstanding credit card or debt payments. Once you have these divided you can see where your expenses are and begin to make plans.

Short and Long Term Goals

The purpose of the two sections is to also examine where you may be able to cut back so that you can focus on getting outside debt paid down. Reduction in any luxury areas such as eating out at restaurants can save enough to transfer it to the debt side. Use this as your short term goal and then set up a long term goal for methodically paying down the outstanding debt. The latter will require patience as it may take as long as a year (or so). Understand that if you are diligent and do not continue to charge, you can accomplish paying everything down and then add some of that back over to the monthly expenditure side.