My name is Seth Ferris from Denver, CO, and I want to share a quick story about how I used two free personal debt programs, which allowed me to quickly get out of debt and control my finances. This strategy allowed me to slash my bills and half without paying for professional help and without hurting my credit.

For the first time in years I was out of the red — just in time for my new baby girl.

I started racking up debt when I entered college 12 years ago. Little by little I used those plastic cards to help pay for books, food and entertainment. But using these cards didn’t stop with college. I’ve used them pretty irresponsibly to pay for just about everything I own. I knew eventually I would have to face reality, but every day that I continued to ignore my debt problem things just continued to get worse.

Next thing you know I’m $50,000 in debt, and it was no longer just my problem. Two years I got married to my wife, Allison, and now we have a baby girl. It was time for me to put the future of my family first and take care of this problem once and for all.

That’s when I used the advice of my cousin, who had recently gone through this exact same process in order to eliminate his credit card debt…

Step 1: Get Your Credit Report and Score (Free)

This first step is critical because the information on your credit report directly affects your score. Unfortunately, the information on your personal file is not always accurate. First, by getting this information online you’ll see what your current score is, then you see all the mistakes on your credit file and notify the reporting agencies. Doing that alone could instantly increase your score, which will allow you to lower your debt. I was able to raise my rating almost 100 points, which I then used to reduce my credit card bills and car payment.

Step 2: Get a Debt Assessment (Also Free)

A debt assessment will instantly show if you qualify for a settlement. This will allow you to do two things… lump all of your bills into one payment and cut your bills in half. Just enter your information and how much debt you currently have, and the website will show the options available to you. In my case I had about $30,000 in credit card debt and after settlement I only owed $16,000.

Just like that, I was given the resources that allowed almost half my debt to be forgiven!

I’m still in the process of paying my debt off, but without following these two simple steps I would never be able to do it alone. I calculated that at the rate I was going it would have taken me 23 years to pay off my bills. Now I’ll be completely debt free in less than a year, and it didn’t cost me a dime by following these two steps. And my credit score is increasing day-by-day as I get closer to paying off my bills.

The one thing that scared me to death was the idea of losing my job and having all of this bad debt hanging over my head, which was what got me to take action. I was considering bankruptcy, but knew that there had to be a better option. With the new addition to my family, the last thing I wanted to do is put my entire financial future at risk.

Here are the links again…

• Step 1: Get Your Credit Report and Score (Free)
• Step 2: Get a Debt Assessment (Also Free)

These 2 simple steps helped me slash my debt, and I’m sure it can do the same for you withouth having to pay a debt counselor.

When looking for ways to save money and tighten your spending without sacrificing too much, you might be considering doing your shopping at a warehouse club like Costco or Sam’s Club.  A move like this can definitely save you money, but it is entirely dependent on your personal needs, so be prepared to do some analyzing before jumping in.

Warehouse clubs can have a number of advantages over the average retail location.  The warehouses make their money off of your membership fee (which can range from $40-50 depending on the store) and function with fewer employees, allowing them to offer you lower prices.  Retail stores generally go the other direction and mark prices up to cover overhead, employee wages, etc.  However, while warehouses will occasionally stock smaller items, you have no choice but to buy the industrial size jar of mayo.  The overall savings might be good, but are you really going to use that much mayo before it expires?

The warehouses also offer an extremely wide range of services all in one spot.  You can apply for home and auto loans, buy vacation packages and concert tickets, get roadside assistance, pick up your prescription medications, and even pump gas at a cheaper price.  You might even find postage stamps and gift certificates selling for less than face value.  It gets better still-you can get a good deal on flat-screen TVs and washing machines.  Try finding all of that at your local grocery store!

Customer service generally ranks low for warehouses, though, mostly due to the smaller number of employees, which means there’s no one around to help you.  They also may not have the exact same inventory week to week, as they buy in bulk from whichever manufacturer is currently offering the lowest prices.  So if you’re hooked on Doritos nachos and just have to have them every time you go shopping, you might be disappointed when all they have next week is Baked Lays.  Some people also mention getting sucked into all the good deals they see and spending much more than they intended to, and when you’re buying in bulk, that could mean an extra $50 or $100 on your bill.

Whether or not a warehouse membership will save you money, then, is entirely dependent on your own personal needs.  If you really will use that entire jar of mayo in time, you’re okay with any brand that is offered on any given day, and perhaps might take advantage of the large appliances for sale, then the warehouse is for you.  If you only buy exactly what you need when you need it and you’re not in the market for a new surround sound system, it might be more realistic to compare your local retail stores and just shop the cheapest one.  Some days they might actually have better deals than the warehouses.

Times may be tough, which is allowing many people to dig in and use creative measures to make extra money.  You may need extra money but your employer won’t let you work overtime, and you feel a little awkward at the thought of asking your friends or family for money (not to mention the fact that you’ll probably have to repay them).  So here are five other ways for you to nab some extra cash quickly!

• Sell your stuff! Take a good, honest look through anything you might have hidden away or not used in a long time. If you decide you can get by without it, sell it! If you’ve got a decent pile of unwanted items, go ahead and set up a rummage sale. You can even try coordinating with your neighbors and advertising in the paper to help draw more potential buyers your way. If you only have a few items, try listing them on craigslist or eBay. (Note: if you choose eBay, do your research on what you’re selling. Make sure that what you can sell it for will make up for the fees you’ll be charged. Check completed auctions on your item to make sure people are buying it because you’ll still have to pay listing fees even if it doesn’t sell. Check out this eBay Millionaire does it.)
• Offer to do yard work for your neighbors. Plenty of people don’t have the time to do all the yard projects they’d like to do, and they certainly can’t afford an expensive landscaping service. Maybe they’re physically unable to do simple tasks like mowing and trimming. They’ll welcome your ability and reasonable prices.
• Donate plasma. Most often, you’ll be compensated for this donation. Some people say that’s because it’s painful. Others say it doesn’t hurt, it’s just complicated. If you can handle either one, you’ll walk away with some extra cash.
• Open a new bank account. Search your local banks and find out what kinds of offers they have on new accounts. You might find one that will deposit, say, $25 or $50 into new customers’ accounts. Sometimes it’s as simple as opening one up. Other times there may be conditions, but you might be able to meet them easily, such as opening the account with a certain amount of money or signing up for direct deposit right away.
• Tutor students. Take a look at schools near you and offer your expertise in your favorite subject. Not only will you make extra money, you’ll be helping someone else succeed.