Did you know that 64% of Americans live paycheck to paycheck? Getting laid off from a job or incurring unexpected expenses can easily lead to a mountain of debt. This can be overwhelming but don’t despair. By taking the right steps, you can get debt-free. Here are some ways to eliminate those bills.

Get a Consolidation Loan

When you’re strapped financially, it’s tempting to use your credit cards to pay for things. But builing up a lot of credit card debt, is more detrimental to your financial stability due to a high amount of interest accruing each month. If you really have no choice but to use credit, and you find youreslf with high alances on a few cards financial experts suggest applying for a consolidation loan through a company such as Priority Plus Financial. That way you’ll be making one payment a month typically at a lower interest rate.

Consult With a Financial Planner

Once you get your debt reduced into one payment, it’s time to figure out how to pay down that loan as quickly as possible. Consult with a financial planner who can help you come up with a realistic budget and work with you to form your financial goals so that you not only get out of debt but also prepare for a comfortable retirement.

Stop Thinking of a Budget as Deprivation

People tend to think of budgets the way they do diets, seeing it as a miserable time of deprivation. Instead, think of a budget as a spending plan where you account for all of your money before it disappears. You can still enjoy that movie or those visits to the ice cream shop so long as everything is done in moderation and planned in advance. Having a budget will help you stay in control of your finances, spending your money the way you’ve planned. Take control over the way you want your financial future to pan out.

Remove the Waste

Another benefit of having a budget is that it enables you to take a close look at the way you spend money. You can pinpoint the areas of waste. For example, going to that coffee shop every morning. Buy a half-gallon of iced coffee from the store for half the price of that one cup you buy at a coffee shop. Stop eating fast food all of the time and cook some meals at home instead. You’ll save money and lose weight.

As you learn to live on a budget and cut back on nonessentials, you’ll be able to make extra payments on that consolidated loan. That way, you’ll pay the loan off earlier. Then focus on paying off your mortgage or save money for the down payment on a house. You’ll be one step closer to a comfortable retirement.