If you’re like many Americans you are drowning in personal debt, looking for a way out. The BDC is a free resource to help you change your lifestyle, use reliable budgeting techniques and get rid of debt as part of your journey toward financial freedom. The BDC is an exciting, practical and easy way to join together and overcome major financial challenges.

Use these tips to Start taking control of:


Debt Relief

How much debt do you have right now? Can you imagine a day when you are debt free? Don’t let debt overwhelm you or keep you stuck in a negative spiral. Instead, attack your debt and take charge of your life.
  • Admit that you have a problem with debt, so that you can maintain the right attitude and discipline for improving your situation.
  • Resist impulse buying. You’re on a mission. Those enticing distractions are costly.
  • Use cash or debit cards and not credit cards. Keep a credit card for emergencies and credit score but only use it if you can pay off the balance in full every bill.
  • Make power changes by choosing areas where you can cut back to pay off debt faster.
  • Prioritize debts by making such as late payments first. Next, pay off debt with small balances or with the highest interest rates.
  • Never pay full price when shopping. Do research and find competitors, wait for the item to go on sale, use coupons or resist buying the item.
  • Use free and trustworthy tools, like or grocery store loyalty cards, to get cash back and/or discounts on needed purchases. Don’t use these perks for unbudgeted items.
  • Create an annual, quarterly or monthly habit of selling or donating goods that you no longer need.
  • Negotiate to eliminate current debt. Call your creditors and lenders and create opportunities to pay off less debt sooner.
  • Learn about the tax code, particularly deductions. You may not be claiming money to which you are entitled or you may be paying too much in taxes by doing things such as not claiming the right number of tax exemptions.
  • Never feel pressured to make money decisions immediately. If a store, a lender or an investor is pressuring you to make a quick decision, that may be a strong indication that the deal is not in your financial favor.
  • Create a relationship with a local bank and frequent it enough to take advantage of the free advice bankers offer on financial matters.
  • When making a major purchase, such as a car, consider first if you can buy a used item instead of a new one.
  • Buck the social pressure for immediate gratification by purposely delaying discretionary spending. You can even make a game of it – try going 30 days with no discretionary purchases, then 45 days, etc.
  • Stop buying expensive gifts if they are not in your budget or if you are doing it for reasons such as to impress people. “It’s the thought that counts” is often true and many people appreciate home-made, original or thoughtful gifts more than pricey ones.
  • Reconsider your living arrangements to save money. If you are single, can you get a roommate? If you are renting, might you pay less on a mortgage? Can you do with less space? Can you find a nice place in a cheaper town?
  • Make a habit of reviewing your monthly bills to ensure you’ve been charged properly. Look for areas where you may find savings, such as cutting down on gas or electric use.
  • If you have children, consider changes that could save you money such as moving to a town with excellent public schools or having a live-in family member to provide daycare.