- 1). Spend less money. You need to determine much you really need to spend and take measures to ensure you don't exceed that limit. Alter your lifestyle if need be; cut out luxuries like gym memberships or cable TV.
- 2). Take a second job. It might not be something you enjoy, but earning more money is crucial if your expenditures exceed your income.
- 3). Hand over your ATM card to a friend or relative. Determine how much you need each week and instruct her not to let you take out more than that.
- 4). Continue to pay the minimum amount for all your debts. According to Fool.com you should use any additional money you can afford to paying back the debts with the highest interest rates.
- 5). Keep one credit card with the lowest interest rate on hand for use for emergencies. Remove the rest of your cards from your wallet.
- 6). Switch to a credit card that has a lower interest rate and transfer your balance over. Avoid cards that charge balance-transfer fees. Don't be tempted by cards that offer zero interest for a set period of time; these are not always beneficial in the long run. Look for one that offers a low interest rate for the life of your account.
- 7). Take in a roommate. Reduce spending spending on bills and rent payments by sharing costs with another person.
- 8). Shop around. See if you can save money by changing the company that handles your bills, such as cable or telephone packages. Also look into swapping utility companies if possible and it makes a significant savings.
- 9). Move to a smaller home. This not only can give you a large amount of cash but also cheaper house payments and home-maintenance costs.
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