3 Ways to Reduce Your Debt this Fall

Summer is finally coming to a close, and carefree days are giving way to focus and ambition as the corporate season approaches. Everyone knows how easy it can be to put things off during the summer, and fall is often the time in which people begin to pick up the pieces and get back on track. For those who are in debt, there’s nothing more important than taking the time to hit it dead-on. 

Reducing your debt can be a rather trying process, but there are plenty of ways to go about doing so. Here are just a few to get you started: 

Get on the Phone Immediately

It’s not uncommon for people who have large amounts of debt to simply ignore them and allow them to fester. While it can provide temporarily relief to shut yourself off from the real world, your debts aren’t going to go away on their own. 

In fact, people who ignore their debts tend to face significant fees and penalties, some of which can add exponentially to the amount of debt already owed. The best thing you can do is get on the phone as soon as possible and explain your situation. If you’re unable to make a payment on your debt at the moment, there’s still no reason to ignore what’s going on. Many lenders are more than willing to work with those who owe them money, especially if you’re honest about where you sit financially.

Consider the Snowball Method

“Snowballing” is a term that everyone has used at least once, often referring to when times can get overwhelming. What many people don’t realize, however, is that the term also doubles as one of the best debt-reduction methods one can take advantage of. 

In relation to debt, the term refers to starting with your smallest debt and getting it paid off in full, then moving on to your next smallest and continuing until you’ve taken care of all your past dues. It can be a time-consuming process, but any type of debt-reduction is. Plus, snowballing comes with the added reward of feeling as if you’re making progress–not something that can be said for other forms of debt reduction. 

Work with a Debt Consolidation Company

Sometimes dealing with debt can be overwhelming. If you owe more than you can stand figuring out on your own, it may be worth your while to hire a professional debt consolidation resource like Accredited Debt Relief. Companies such as this can help to consolidate a multitude of payments into one easy-to-handle payment that can save you a great deal of time and energy. Many debt relief companies offer “no-fee” services as well, which means you won’t be sacrificing your hard-earned money when dealing with your debt.

Getting out of debt can seem like a dead-end street at times. However, if you take the time to get all your facts in line, you’ll have a much better chance of living debt-free in the near future than you would otherwise.



  1. Thanks for the great advice! i'm in a bit over my head actually and am considering different options to help us out right now!

  2. hmrcarlson says

    Great tips! I have heard that "snowballing" can really work.

  3. sarah stickney says

    Good tips… I've thought a lot about debt consolidation in the past.

  4. When I was 18 I got into trouble. The credit card companies gave me platinum cards with HUGE limits. I racked up a huge amount. I could have bought a car with my card with what my balance was, but no – I bought makeup and beauty things. UGH. Makes me so mad. I went with Credit Canada and paid it all off in two years.
    My recent post Back To School Made Easy With Sears #SearsBabysRoom

  5. Debbie Bashford says

    I like the snowballing effect for paying off debt

  6. BeneFIT with Claudia says

    Great tips on breaking it down, rather than see it as a HUGE daunting task, breaking it down into manageable steps makes it so much less stressful!!
    My recent post 10.. ish.. Important Contest Prep Planning Points

  7. Great tips i love the snowballing advice to get rid of small debts first in order to concentrate on the big ones! I am in the process of doing this very thing with are credit cards to get rid of them!

Speak Your Mind