If you ask the average person what they need to do to get out of debt, they will come up with some of the following responses. I need to make more money. If I could only win the lottery. I can file bankruptcy and start all over again. I need to open my own business. Although many of those responses may have some truth to them, those are not the first things that should be done.

Believe me I know. Years ago when I got a 30% raise along with the possibility of making big raises each month, I was quick to find more things to spend money on. When my wife and I realized what was going on, we immediately changed our spending habits.

As simple as what I am going to say may sound, the first thing a person needs to do to stop overspending is to determine what is motivating them to spend so much money on things. After determining this, they need to find out what they are spending their money on. They then need to determine areas in which they can cut or eliminate spending.

Studies have revealed that if people do not do the previous steps, even if they make more money, file bankruptcy, etc. they will continue to overspend. If you find yourself in this situation, it can not only be depressing, but also cause problems with your spouse and children. If you believe that some unbiased assistance will help you, you can call me at 313-744-5977 or e-mail me at [email protected].