One of the reasons why a life in debt is very hard stems from the financial restriction that it will put you through. Because your debt payments are now a priority, it leaves you with very little from your budget. That means you cannot spend on the things that you used to enjoy.
While it is understandable that sacrifices will have to be made, you can always get the aid of a debt relief program to make things more convenient for you. Of course, you will not really aim to be too comfortable because that is not possible when you are in debt. You just want a bit more breathing space so that you can work on growing your income and paying off your debts more easily.
It seems the solution here is to make your monthly payments low. There is an option to reduce your overall debt balance but that could damage your credit score. As much as possible, you want to avoid that so that your recovery from debt will not be too difficult.
If this is what you want to happen, you should opt for debt consolidation. This type of debt solution will stretch what you currently owe and distribute it over a longer payment plan. In most cases, you can enjoy a lower interest rate too. You can choose between debt consolidation loan or debt management. The former involves applying for a loan so you can pay off everything else that you owe. That leaves you with only one loan to pay off every month. The latter will include a debt counselor who will help negotiate with creditors to accept the lower monthly payment over a long term. They will also add management services so you get to send only one payment through the counselor who will distribute it to your different creditors.
While this debt relief option will help lower your monthly payments, there are other things that you can do to keep your contributions even lower.
One of them is to stop acquiring debt. If you really want to be debt free, stop using your cards or making unnecessary purchases if it will put you in debt. Adapt the cash only policy so you can control where you money is being spent.
An effective way of not acquiring debt is to grow your savings. This will eliminate the need for you to borrow money in case there is an immediate situation that requires it. Your savings will also help you in case your main source of income is compromised.
You should also make sure that as you continue to pay off your debts, you must stick to your payment plan. Try not to be late lest you incur charges for it.
These are only some of the things that you can use to help minimize your monthly debt payments. If you are really serious about getting out of debt, you also have to make sure that you learn how to stay out of it as well. Practice the right financial management skills and you should be able to accomplish both.