Frugal Living Tips to Pay Off Debt

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Now is an excellent time to get control of your problem debt and start to pay it off. It’s the beginning of the year, giving you plenty of time to work on it and get it right, it’s also mild pandemic when everything goes shut, so spending opportunities are limited. Don’t waste this chance to become debt free, read the tips below and begin your journey of frugal living. 


When you have large amounts of debt it can be stressful and damaging in all sorts of ways. You need to get it under control. The first thing you must do is to consolidate it. You need to make the debt payments manageable and friendly to your budget. 

When you consolidate your debt you will notice a difference immediately. Suddenly you will be able to plan your finances and save money again instead of giving it all away with interest payments. You will have to sign some forms but it’s recommended. 


Once you have streamlined yoy finances and reduced your problem debt to one manageable monthly payment it’s time to set goals to pull yourself out of the quicksand of debt and back to the surface. Goals are the best way to do this. 

Make sure your goals are realistic and attainable. Look into SMART goals as a model for goal planning. A good place to start is by imagining where you would like to be financially in the coming months or year. 


After setting your goals it’s time to start a budget. If you’ve had bad debt you probably have an unhealthy relationship or attitude to money. You might think of it as being problematic. Try to change this mindset. Money is just a means to an end. With a budget you can use it wisely. 

Consider the things you absolutely need and can’t live without. Then see what is left over. Decide on what you can cut and what you can save. Chances are you will be able to pare it down quite a lot. If you find that you want things in your lifestyle factor them into your budget as you go. 


These days everyone has devices. We have laptops, smartphones, and consoles. If you live rented accommodation you may not have adequate insurance cover in case of damage to these expensive items or if they’re stolen. 

Under these circumstances it’s highly advisable to take our renters insurance. Renters insurance covers you in case of damage or theft. It can save you a lot of money and stress in the short term, especially if you’ve just had a break in. 


When you carry out your budget planning you should take a close look at your bills and where you can save. Some bills such as property tax and gas aren’t always easy to reduce, on the other hand, there are some bills that can be reduced by switching providers or changing habits. 

Electricity bills and Internet bills are two of the most common types of regular bills that can be reduced. Compare the market and take full advantage of incentives to switch.