7 tips to help dig your way out of debt | Business

Here’s the good news about bad debt: You can reduce it.

When you have a clear view of your outstanding accounts and amounts, you can use the following tips to get out of debt.

1. Re-examine spending habits

Your spending is divided between “need to have” and “nice to have.” “Need to have” means food, shelter, utilities, transportation and clothing. “Nice to have” is everything else.

While whittling down your debt, you can’t slack off on your…