Shedding the Excess Debt

Excessive-Debt

Shedding Debt

When dealing with unwanted debt and getting rid of it, you will need to be realistic. It may have built up very quickly, or accumulated little by little overtime. It will take time to start trimming it off, but with a proper plan and follow through, you can achieve your debt free goals!

While it can be quick and easy to build up debt quickly due to lines of credit, payday loans or credit cards, paying these off will take some planning, and time.

Start Tracking All of your Spending

On a monthly basis, you will need to jot down everything you have been spending. Start by creating a spreadsheet so you can have everything allotted for, including household expenses. Also, try going back a few months of expenses, gather up what data you can. Once you have enough expenses captured, you can start to see what areas you are overspending, and areas you can trim or cut all together.

Getting out of Debt

Once you have listed all your spending habits, and noted the areas you need to work on, see about the areas you can cut/trim. Think about ways to increase your monthly income (side job/overtime).

Creating a monthly plan, and having your whole family stick to this is important. Having monthly budgets for each area allotted for, and having your family follow this will help teach your kids how to better manage money and help be prepared for the future.

Saving for the Future

The faster you can pay down your debts, the more you can invest into your future. When paying down your debts and credit cards, look to pay more than the minimum amount as this will help you pay down your debt faster. Look at paying down the higher interest rate cards faster. When one debt or credit card is paid off, you can then increase the payment to the next debt, or you can also choose to save a bit more for an emergency fund or savings.

Staying Debt Free

The lessons learned from shedding that debt and keeping the excess debt off should be ongoing. Always keep in check your monthly income level, and your monthly expenditures.

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt and live in the Toronto area, call us at 416-498-9200 to book a FREE, confidential appointment. We will review your financial situation in detail and discuss all of your options with you. Alternatively, you can fill out the form below and our team will reach out to you. 

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Ready to live debt free?

The best decision I've made was to contact David Sklar & Associates, they are experts in this matters and also have dedicated Licensed Counsellors that provide the best customer support, like Rhoda Lewis, who I highly recommend. She worked tirelessly on my case, explaining ever detail to me willingly. She demonstrates a true interest in her clients. I appreciate how she patiently walked me through what to do, step by step. I now have control over my finances, as a result my life is much more peaceful and I can focus on what matters. Thank you!
Nilda H.
20:18 16 Jun 22
Very helpful and friendly! I am more than satisfied with my experience here. And more than happy with the outcome! Would definitely recommend .
Peggy Bulger
15:10 14 Jun 22
Jerry at David SKLAR helped me thoroughly understand my options and made me feel at ease. If you are looking at this type of service/help, I 100% recommend you give them a call.
Colleen H
12:50 14 Jun 22
Rhoda is a wonderful person, She help me and guided me throughout the process. I couldn’t do it without her support and expertise. Now I can start fresh and full of hope of a better life ahead of me.
ariezel erandio
21:33 06 Jun 22
The service I recieved from David Sklar and Associates was great. I was able to meet with Christin Sylver. She is kind, understanding and, professional. She was able to answer all the quesions that I had regarding my debt. At the end of our meetings, I felt that there is a heavy burden lifted from my shoulders. I recommend Chistine to anyone who is looking into debt relief.
Aliya H
12:11 04 Jun 22
Jerry is a very patient person, he answered all my questions and made this experience so smooth and easy for me. I was not sure what to expect but dealing with him made me feel so much better. He sure knows what he is doing and how to put people at ease for sure (should have done this long ago). I recommend him to anyone I am so glad I had him on my side and now to do my part. Thanks Jerry ur greatPattie
Patty Murphy
21:34 18 May 22
Rhoda Lewis helped me achieve a fresh start two and half years ago! She was very professional with a very warm, caring personality! I emailed her today with a question and she responded quickly. She's great at her chosen profession!!
Debbie Livingston
01:24 11 May 22
Nothing but good things to say about Jackie. She was so nice and so understand and everything was so quick and easy. In a matter of a week, there was the solution that I never thought was possible. Thank you so very much for everything that you have done. ❤️❤️❤️
Cassandra Keenan
21:05 10 May 22
I was in a lot of debt and stress, Jackie Stanley with David Sklar & Associates was very professional, and extremely helpful with getting out of debt. I should of did this sooner, they take the all the weight and stress of a persons shoulders, amazing team at David Sklar & Associates!!
Hubert Z
03:08 10 May 22
Jackie helped me out during a really tough time and she made the entire process very easy and painless. I highly recommend reaching out to her if you find yourself in any financial trouble. You won’t be disappointed!
prettylush 13
02:42 10 May 22
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