How to Save Money While in Debt

If you are trying to pay off your credit debts you may not think that savings should be a priority, but you're wrong! So, so wrong. Without a safety net in place, you'll just fall back into your old credit card using ways.

Saving doesn't have to go by the wayside, as long as you keep focused and control your spending. Having a plan is important, sticking to the plan is even more important.

However, your plan shouldn't be to save for a vacation while you make minimum payments on your Visa. That's tacky. Put all unnecessary spending on hold and get to work. If you have no savings and owe lots of money you absolutely need to fix your finances, like now. Here's how:

1. Make a budget. It isn't hard, it takes very little time, and you need one. Just do it already.

2. Trim any and all excess spending. Pack lunches, borrow books and movies, say au revoir to going out for a few weeks. Your friends won't forget about you. Actually, they're probably broke, too. Invite them over for some Charles Shaw and Orange Is the New Black.

3. Make saving $500-$1,000 your priority. Putting money aside that is earmarked for emergencies will stop you from relying on your credit cards to save the day. That's what got you in this mess!

4. Once your mini-emergency fund is in place, begin to tackle your debt.

5. Maximize your retirement contributions at work. Rework your budget as needed.

6. Work work work work work.

7. HATE IT.

8. Actually sort of like it?

9. Love it!

10. Enjoy your progress! Set new goals, crush them. Use credit responsibly.