Thomas Moran Ulysses and the Sirens painting

Thomas Moran Ulysses and the Sirens paintingThomas Moran Mountain of the Holy Cross paintingThomas Moran Monterey Coast painting
Curtail spending. The first step is to stop the bleeding. If you’re trying to get out of a hole, you’ve got to stop digging first. So make the decision right now to not use your credit card except in emergencies. Cut back on your spending in any way you can, at least for now as you try to get out of debt. Consider tracking your spending for a week or two at least, down every purchase, so that you can see where your money is going. Some suggestions for cutting back: eating out, going out, magazines, expensive or other drinks and snacks, new gadgets, non-essential clothing purchases, non-essential furniture or purchases, to name a few. Now, I’m not suggesting that you never eat out or go out to have fun — but I am suggesting that you cut back on these types of spending. Find other ways to have fun that don’t cost as much.
2. Save an emergency fund. With the money you save from Step 1, begin saving an emergency fund as quickly as possible. Let’s say you identify $200 per paycheck that you can save from cutting back on specific spending items (as an example — your amount will vary). Now put that $200 into a savings fund each