Is There a Way to Become Completely Debt Free?

Become Completely Debt Free

The year 2020 was very bad for most of us, but we can make specific reforms in 2021. In this blog, we shall focus on a few points which can make you debt-free. Last year, some of us had to quit our jobs due to the requirement of offline work while some people are working online but getting half of their salary.

In such cases, you might have taken a sort of things when you had to borrow money on credit and still, your salary does not allow you to get rid of it.

In this blog, you shall see how you can become debt-free by applying some simple techniques and what can make you do for specific improvements in your financial life. Along with this, you can improve your instant money demanding emergencies by applying through direct lending.

Become Completely Debt Free

First, you need to take a pen and paper and note down your total expenses and total income

The list will comprise all sources of incomes and expenses altogether. Basically, the list of all incoming and outgoing, like your regular expenses or occasional expenses.

In addition, your income sources are rental income, salary, interest, and all other income sources. Make a list, and write them all.

The second thing is, you have to cut down your unnecessary expenses.

  • They are the expenses, especially which can be easily avoided to make ourselves happy and liveable. You need to cut down those expenses.
  • For example, your workout and hired a personal trainer, and now you feel that you can work out without a personal trainer. You can reduce the expense by discontinue your personal trainer on the list.
  • You can also eliminate the eateries you include, like morning or evening snacks which do not provide you with better health.
  • By swear, you can save your money from getting spent win various inappropriate things.

You can go with simple money in Ireland to give the proper help to your financial matters and giving a bump in your financial estimation.  You can make use of this lending process to conclude your financial give-ups.

The third thing is, you can follow the debt snowball method.  

Become Completely Debt Free
  • In this, let us suppose there are three kinds of the loan upon your head. One is a car loan, the second is a house loan, and the third is a personal loan, and the three loans have left with little amounts. Let say 50 thousand in the first loan, 30 thousand in the second and 10 thousand in the third loan, respectively, and then you can then use two techniques.
  • Your prior responsibility is to light the burden of that loan that charges the highest interest. We all know that the amount of interest is comparatively higher in our personal loans. If there is a less amount drawn out from personal loans, you have the burden of only two loans.
  • Either you can do one thing: you can repay that loan amount of which is left in little. It means you need to drop the loan amount of 10 thousand, which is the utmost possible and doable. This makes you are left with only two loans.
  • You can also make your monthly instalment automated. If you feel like you can pay off the loans with monthly instalments manually on time, Automation is better than this procedure. The applications provided by the lenders are already entailed with this provision.
  • When you not pay the monthly instalments on time and do not even follow the warning of the deadline, you become redundant to approve loans for the next time. Paying after the last dates can impact your profile. If you activate the automation key, then the amount will be debited simply from your account.

The fourth is debt Consolidation method

Suppose you have a credit card debt, and they can be worst even with the charge of 40 per cent. That amount can be small, but the interest you will have to pay can be merely more.

What you can do is, you can take a simple personal loan, and if your credit score is good, then you will be able to claim for 13 to 14 per cent.

You can take a personal loan to clear the credit card debt, and now you are with a maximum of 15% debt interest, which can be done quickly. 

The fifth is balance transfer

Suppose you have taken a loan from a back given to you by viewing your credit score and your overall profile. It charges only 9%. On the other hand, you think another bank charges 7% on the same profile; definitely, the latter is more comfortable for you.

You can make transfers from one bank to another and then pay off your debs according to the slightest interest charging bank.


You can go with the exemplary sorting of financial recoveries that can harness your pocket with savings if you follow the tips mentioned above. You can use the direct lending procedure to conclude your expenses and mark the right path of your financial stature.