1.
Cut Out Small Expenses That Add Up Everyday - Find small ways to cut back every day.
Whether its cutting out your daily specialty drinks or any other treats you find yourself buying.
Find another way to treat yourself.
Buy something in bulk that you can have a little of every day.
Make your own treats at home.
2.
Start By Paying Off The Highest Interest Loans First - Make minimum payments on all loans except for the highest interest loan.
Make more than the minimum payment on that one.
Once you have paid that one down until it's gone, go to the next highest interest loan and start on that one, and so on.
3.
Refinance For Lower Rates Anywhere You Can - Auto loan refinances are sometimes possible as well as home refinances.
If you are able to refinance any of your assets, you can take your monthly savings and put that money into one of your higher interest rate loans.
4.
Make a Budget - If you are going to save your money, its important that you create and stick to a budget.
This will give you a feeling of control over your money.
This will help you get a feel for how you are doing with your spending every day.
If you don't set daily or weekly limits on your money.
You can end up overspending which is money you could have used to get out of debt.
Even in an economic downturn it is still possible to get out of debt.
It takes self discipline and creative thinking to come up with more ways to cut back and save money on your existing loans.