Get Out of Debt Quickly and Focus on Prepping

SHTFPreparedness may collect a share of sales or other compensation from the links on this page.

 

How to Use the Snowball Method to Get Out of Debt Quickly — Many Americans owe so much money that they have no idea how they’ll manage to pay it off, and Christmas just made it worse. Even though the bills haven’t come rolling in yet, a survey from T. Rowe Price speculated that average spending this year would be $422 per child.

Americans are racked with debt and out of savings. The best way to put it is that we spend our money the same way the government does. We rack up large debts and spend tomorrow’s money today. It’s an ugly thing but it’s true for many Americans. 

This simply cannot go on this way forever. If we find ourselves living a life like this in the long term than we are never going to be prepared for disaster. While not everything in prepping takes money, plenty of it does. So, we have to be aware of that. 

How can you get out from under nasty debt in a hurry? 

Cut Everything Nonessential Out

While it might seem like you have done a good job at rimming the expense related fat out of your life, we almost always have more to trim. Understanding that can go a long way. 

I am sure you can think of at least one piece of entertainment that you could do without. What about those pesky vices? Is it time to quit something? 

Create a Black Budget

Create a budget for prepping. Even when you are struggling with debt you can still put money away for a special purchase in a black budget for prepping and survival items. 

What else can you do to prepare yourself for those great deals that come along with prepping and survival?

Get Help

If you are really crushed by debt and cannot even afford to make minimum payments it might be time to get outside help. Debt relief programs do work. These programs will save you thousands of dollars and give you a light at the end of the tunnel. That is invaluable. 

Dont play around with debt. It stifles everything. You can never be your true self when you are pinned down by debt. 

Permanent link to this article: https://www.shtfpreparedness.com/get-out-of-debt-quickly-and-focus-on-prepping/

Send this to a friend