Get Out of Debt Solutions

It is interesting what a little competition can do to improve your life. I have heard from many families who were unable to cut spending each and every month until they started a family contest on who could save more.  For example, if the wife does the grocery shopping then her goal is to reduce grocery costs and if the husband spends on household stuff, this would be his category.  Kids can be connected to their clothing budget or food or allowance.  Each month whoever accomplishes a higher percentage in reduction wins some prize that the family can determine beforehand.

Also, it does not have to be a contest.  Look at the category where you think spending is out of control and provide an incentive to whomever is the responsible person with a prize for reducing it a certain percentage each month. It sounds hokey but I know of at least 10 families who have applied to this approach to save hundreds each month out of their budget.  Take the extra savings and pay down debt.