It seems to be the American way – buy now, pay later. Especially in these tough economic times, more people are finding they are falling deeper into debt, often times because they feel they have no other option. But, there are options; it’s a matter of knowing what they are and where to find them. Vivix Credit Solutions is helping people everyday uncover real solutions to an array of financial issues, and getting them back on track.

Eliminating debt can be an overwhelming prospect especially if you’ve gotten in way over your head. There are things you can do to not only rid yourself of this debt but to help prevent it as well.

Many people hear the word budget and are instantly overcome by fear or intimidation. But a budget can truly be your best friend. You have to sit down and realistically look at your situation and be ready to stick with a plan. You need to list your incoming funds and your monthly expenses and see where adjustments need to be made. An emergency fund is a good idea to include in your budget so you always have a stash set aside for unexpected incidents and so you don’t have to borrow or pull cash from another expense.

Whether you are in debt or trying to avoid it, prioritizing is a must! To get or keep your financial house in order you have to list the needs and wants in your life and pay for the necessities first and foremost. If there are too many wants, you may have to cut some of them out until you can afford an extra splurge. Any debt you owe must be high on the priority list so you can pay it down and eventually rid yourself of it.

Tracking your expenses is a simple, eye-opening tool that let’s you know where you are spending your money. Things that may seem trivial, like a daily coffee run or lunch out, often add up to a substantial amount that may surprise you. Do this for several consecutive months to really get a grasp on your spending habits.

It’s easy to get in a rut of paying the minimum monthly payment on a stack of bills and never making any progress. It’s critical that you are aware of who you owe, how much you owe, the interest rates, and any other pertinent information pertaining to your debts. Stay informed about your accounts and communicate with your creditors. There may be payment plans available and you can even get your interest rates reduced in some cases. Also, if you are already in debt, do not pile on more by adding additional cards or other loan types.

Often times, people who are struggling with debt are embarrassed and afraid to ask for help. There is nothing wrong with seeking the assistance of professionals especially when it comes to your finances. It’s liberating to get out from under the heavy burden of debt and Vivix Credit Solutions can help you do that.

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