Best Ways to Reduce your Debts

In this economy debt can seem like a never ending stream. Fortunately, there are many ways to reduce debt. Reducing takes plan of action and discipline.

Lower utilities

One of the easiest ways to lower your debt is to cut back on energy usage. Often times many people have a tendency to be very wasteful with energy consumption. It is best to use as much natural light as much as possible. Using natural light is the easiest and fastest way to see a reduction in your energy bill. You can also call your local utility supplier to workout a different payment structure. Although lowering your utility bill is a bill you can never get rid of it is an avenue to redistribute savings into reducing other debt.


Cutting back or eliminating services is an easy way to reduce debt. Services like cable, phone bills, subscriptions and memberships are easy targets to find ways to reduce debt. Memberships and subscriptions are usually the first to go when reducing debt. Gym membership are one of the most underused expenses one can have. Most of the time people normally are motivated for the first couple of months and then people stop going and continue to pay. Subscriptions are usually underutilized as well. Do you really need on demand or premium channels when you find your favorite shows on Hulu or watch your favorite movies on Netflix.

Pack lunch

One of the best ways to reduce debt is to pack lunch. Many people usually spend a lot of money on take out lunch and hanging out after work. It makes no sense to spend $150-$200 on groceries and continue to spend money on lunch at work. Minimizing hanging out after work is a good way to reduce spending.

Excessive grocery shopping

When most people go to the supermarket they do not take inventory or take a list with them when they grocery shop. Failure to take a list is the easiest way to loose track of spending. Prior to grocery shopping one should closely monitor their eating habits to avoid buying groceries on impulse. Monitoring your eating habits usually leads you to become creative with meals.


Often times the next biggest expense after rent is transportation. If you are spending a lot of money on transportation it is time to find an alternative if you are serious about reducing your debt. Carpooling does more than save money on gas-when carpooling your are increasing your cars lifespan, reducing maintenance costs and etc.

There are many ways to reduce debt. It is up the individual to find ways to reduce debt and stay out of debt. Reducing debt is like a sport, it takes practice. Good luck!