Getting out of debt can be difficult when you consider how the cost of living has steadily risen over the years. We are constantly taking out loans and using our credit cards to pay off existing debt. It almost seems as if we will never get out from underneath our financial burdens that slowly sap our resources away. However, there are some simple tricks that most Americans can utilize to help them save money each month. Here are 7 simple tips that can save you when you’re in a pinch.

Make a Budget

People will often spend out of control when there is no financial goal set for themselves. Having a monthly budget will help keep you on track and prevent you from spending when you’re not supposed to.

Pick up Side Jobs

Picking up some extra work whenever it is available is a great way to save some extra money each month to help you either pay down debts or save money. Most retailers are hiring seasonal work during the holidays. That means it is a perfect time to pick up a job and make some extra cash.

Live Below Your Means

While everyone wants a luxuriously decorated apartment, it is not always a feasible option for most people. Make sure to live below your means to avoid racking up unnecessary debt that can get you into trouble and ruin your credit score.

Pay Extra When You Can

Paying extra on your debts each month can actually help you in the long run. This means adding an extra $50 to $100 a month on your debt payments can actually help you pay them off faster.

Loans and Relationships

People oftentimes pick up extra debt whenever they are in a relationship. Make sure to limit what debt you rack up regardless if you are married to someone or not. Relationships can be finite sometimes and you may find yourself with more debt lining up after you split from your partner if you’re not careful.

Debt Consolidation

One of the best ways to get your debt organized is to use a debt consolidation service. This will be able to roll multiple debts into one account with a much lower interest rate.

Understand Why You Spend Money

Understanding why you have a spending problem is key to eliminating it altogether. Take time to understand why you are spending so much money and take proactive steps to breaking these bad financial habits.