Being in debt can be tough. But the good news is there is always a way out. Mariana was willing to invest the time to make significant changes.
First, Mariana knew she had to make the decision to reduce her debt. Letting yourself fall into debt can be very easy – but also very dangerous. Credit cards give you high spending limits with low monthly payments exactly so you spend more. At the same time they entice you with points, miles and cash back making you feel like your spending is actually earning you money. While it makes you feel good, and credit cards take away the pain of spending so much money, it can leave you in debt and paying way too much in interest. Mariana recognized that her spending was too high and decided she wanted to take action.
She then took the time to learn her options. Once Mariana decided on her financial goal, she explored her options on how to reach them. Many times this comes down to earning more or spending less. However, when people think about building a budget they usually fear this means they will have to significantly change their lives. But with careful consideration, many find that you can make simple trade-offs which allow you to keep enjoying life while cutting back in less important areas.
Asked for help and got guidance. Going through the budgeting process for the first time can be very stressful – but it doesn’t have to be! There are great resources available to help you through the process and make sure you reach your final goal. Mariana started learning as much as she could and reached out to a service which would help her through the process for free.
You might also like: 3 ways Mariana boosted her credit score