By Jerry Mooney

We can try to fight it as much as we like, but life is a lot easier when we have money. Unfortunately, we live in a world where many of us are facing debts. Not only does it make life physically more difficult, but it can cause huge emotional stress too.

Unfortunately, there is no miracle cure to suddenly rid yourself of debt overnight – unless you win the lottery. However, the steps outlined below will go a long way to boosting your situation. It might take a while to get yourself fully on your feet. But just knowing that you’re heading in the right direction will help.

Here we go.

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Consolidate

Once you encounter debt, it’s imperative that you make repayments as agreed. Unfortunately, juggling various accounts can be difficult. This is especially true when you have other life commitments to consider.

One of the best things you can do is consolidate the debts. Second charge loans can allow you to pay off existing debts in one fell swoop, which can have a huge impact emotionally. While the debt won’t be decreased, you may find that the overall interest rates fall too.

Borrowing now can also allow you to complete any home improvements that will save you money in the long run too.

Make Improvements

Accepting that you have encountered a problem is the first step en route to recovery. As long as you use this opportunity to start a new and improved chapter, you should limit the damage. Your first major job is to ensure that you are getting paid the amount of money you deserve. If the answer is no, do something about it.

In truth, increasing your income can be difficult. It’s far easier to start reducing your overheads. We’re all guilty of a little waste. Whether it’s using price comparisons to get cheaper bills, or using coupons to save money on groceries doesn’t matter. Any step towards a more cost-effective way of life has to be a step in the right direction.

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The recipe for success is pretty straightforward. Greater income plus fewer outgoings will lead to a brighter financial future. Even if the progress is minimal, it’s better to climb out of the hole than fall back.

Talk

Whatever way you look at it, a problem shared is a problem halved. Bottling up your fears will make them feel scarier. Moreover, it will encourage you to ignore them. Speaking to people in the know will force you to take action.

Creditors are often far more understanding than you’d give them credit for. As long as you can show that you are genuinely making an effort, they will often provide a little help. Even if it’s installing a short repayment break, this can have a telling impact on your financial future.

To truly improve your financial future, you need to go back over the past. We all have a credit history, and repairing your poor score could be key to creating new opportunities. Not only will this stop debt from spiralling, but it can help you actively drag your way out of the hole too.

As long as you start to take responsibility, there’s no reason that you can’t overcome your problems. It may take some time, but you will eventually get there.

Jerry Mooney is co-founder and managing editor of Zenruption and the author of History Yoghurt and the Moon. He studied at the University of Munich and Lewis and Clark College where he received his BA in International Affairs and West European Studies. He has recently taught Language and Communications at a small, private college and owned various businesses, including an investment company. Jerry is committed to zenrupting the forces that block social, political and economic justice. He can also be found on Twitter @JerryMooney