You can certainly consolidate your own debts. However, this requires strong self-discipline in order to make it works.

For those of you who are ready to DIY your debt consolidation, you need certain things to be done. Let’s talk about these things in the other side of the bridge: Your funds to pay off the consolidated debts.

There are some ways to fund your debt payments – finding another job is one of the most common ways, but I’m sure many missed the easiest path to get some funds ready to pay off your debt: Manage your personal budgeting’s expense column well.

I assume you have a personal budget right now. If you didn’t, I strongly suggest you to start budgeting right now. You’ll start seeing things that are shockingly ineffective – I’ll bet one of those things are your entertainment expenses in the form of eating out to restaurants.

To some people, this kind of entertainment expense comprises as much as 30% of total income (even more) – this is huge! Now, if you do spend that much eating out, don’t lose heart – in fact, you must be grateful that there is one expense post that is easy to work on.

The one-step plan is: Stop eating out, start eating in. It’s not healthy anyway – what you eat in restaurants is probably high in the glycemic index food list – high GI means bad food for your health. This will drop your eating out expenses by as much as 70%, depending on which kind of restaurants and the frequency of eating out. This means, you can free up to 20% of your personal budgeting – I think this is significant in helping you to pay off some of your consolidated debt.

The best way to know is just do it – you’ll start to see the benefits of keep your expenses checked and stop eating out – especially in term of health. Doing diet regime, such as south beach diet phase 1 on top of that will keep you in shape, in term of financial and health.

Related posts:

1. What is the Most Important Aspect of Successful Debt Consolidation?