| If you're looking to get rid of your debt, you probably already know that there is a lot of getting out of debt info available. What you might not know is how to sift through this information to find what you need.
While going through the piles of information that's out there on reducing debt may sound overwhelming, finding what you need doesn't have to be a difficult process. There are some simple questions you can ask yourself about any piece of getting out of debt info that should help you choose whether to keep it or toss it.
Does It Pertain to My Situation?
If you're looking to get out of credit card debt, information on reducing your mortgage isn't what you need. Likewise, if you've paid off your student loans, loan reduction programs aren't going to solve your problems.
To decide if a piece of getting out of debt info will be useful, examine it carefully. Ask yourself if you are in the same or a similar situation to the situations discussed in the information. If you are, hold on to it. If not, you can toss it.
Does It Come from a Reliable Source?
While anyone can provide getting out of debt info, it may not be useful to you unless the person is trained to deal with debt or has some experience getting out of debt themselves. Sometimes, people will even try to lure you into more debt by giving poor advice or charging exorbitant rates for their info.
Check the credentials of any source before you follow their advice. Usually, a simple Google search will help you determine whether or not a particular person can be trusted.
Is it Something I Haven't Heard Before?
Though there are pages of information about reducing debt available online, in books, and in magazines, much of it only repeats things you've heard before. Helpful as a piece of getting out of debt info might be, you only need to hear it once. After that, it will only clutter up the situation even more.
Is it Something I Can Do?
While a particular piece of information might be relevant, reliable and new, if it's not something you can do right now to change your financial situation, it's probably not worth keeping. It may be tempting to hang on to something for later, but consider your situation carefully and only do this if you're almost positive you'll eventually be able to use it.
For instance, someone might tell you to save a certain percentage of your salary every month. If you're using all of your salary to pay necessary bills, this isn't something you can right now, and so that piece of getting out of debt info won't be useful for you.
Use it!
Once you've narrowed down the getting out of debt info to the items that are actually useful for you, make sure you follow the advice the info gives. It won't do you any good stacked on your kitchen table or shoved into a corner of your office! |