5 Simple Ways To Getting Out Of Debt

Published

6 years ago

October 17, 2018

Uche Solomon

The massive burden on debt is like a plague on many people these days. It eats at your finances, puts you behind with your bills, and keeps you from getting ahead. And yet, getting out of it can be too much for many people, and they can feel overwhelmed and frustrated by the thought of trying to climb out of debt.

Being in a debt can be a very stressful experience. But no matter how stressful it is, you’re still obligated to pay back the debt you owe as at when it is due.

Here are some tips to guild you along

Make a list of debts.

This is a difficult step for many, but necessary. If you’re going to tackle your debt problem, you need to know what it looks like. Make a list of all your debts, their minimum monthly payments, interest rates, and total amount owed. A spreadsheet works well for this. Then total up the monthly payments and the total amounts owed to see what the damage is. If you owe more than one person, identify them and take stock of exactly how much you owe each of them. You’ll need to arrange your debt according to priority. You need to know which out of your debt is more important to settle first.

Reduce expenses

See what you can do immediately to reduce your spending. If you can reduce expenses, you can use that money to start paying down your debt. Whatever you free up from your expenses, dedicate that to making an extra debt payment

Monitor and control impulse spending urges

Impulse spending is the culprit that leads us to get into debt, and often keeps us there despite our desire to get out of debt. Learn to monitor your urges, so that you’re aware of them and can control them. Often, when you get the urge to buy something, your heart beats faster and your breathing gets a little heavier. If you can get past these urges, you can control your spending.

Watch for irregular expenses

Think ahead to expenses that may be coming up, like Christmas and birthdays etc. i These are things that don’t happen every month, but that will definitely be coming up. Budget for them, saving a little so that you are prepared. It’s best to include a small amount in your monthly budget for irregular expenses like this, so that you have the money when you need it.

Make extra cash

In addition to reducing expenses, you should see if you can bring in some additional income by creating or doing something that could make you earn extra income. It doesn’t have to be permanent, although you might decide to keep bringing in the extra income even after you’re out of debt.

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Denzel Washington Opens Up About 15-Year Battle With Alcohol

Published

7 hours ago

November 21, 2024

Reporter

Denzel Washington On 15-Year Battle with Alcohol | fab.ng

Hollywood icon Denzel Washington recently disclosed his past struggles with alcohol during an interview with Esquire.

The two-time Academy Award winner candidly shared a fifteen-year pattern of wine consumption. What began as a casual habit gradually escalated into a regular occurrence.

He began, “Wine is very tricky. It’s very slow. It ain’t like, boom, all of a sudden,” he elaborated, recalling how a wine cellar he constructed in 1999 within his home became a place for self-indulgence.

The actor added,

“And part of it was we built this big house in 1999 with a ten-thousand-bottle wine cellar, and I learned to drink the best. So I’m gonna drink my ’61s and my ’82s and whatever we had. Wine was my thing, and now I was popping $4,000 bottles just because that’s what was left. And then later in those years I’d call Gil Turner’s Fine Wines & Spirits on Sunset Boulevard and say, Send me two bottles, the best of this or that.”

Washington also delved into his past, acknowledging his youthful experimentation with drugs. However, he emphasized that he never developed an addiction to substances such as heroin or cocaine.

He continued,

“I’m sure at first it was easy because I was younger. Two months off and let’s go. But drinking was a fifteen-year pattern. And truth be told, it didn’t start in ’99. It started earlier.”

A decade ago, as Washington neared his 60th birthday, a turning point arrived. He made the resolute decision to abstain from alcohol completely.

“I’ve done a lot of damage to the body. We’ll see. I’ve been clean. Be ten years this December. I stopped at sixty and I haven’t had a thimble’s worth since. Things are opening up for me now—like being seventy. It’s real. And it’s okay. This is the last chapter—if I get another thirty, what do I want to do? My mother made it to ninety-seven,” said Washington.

Check out more updates here.

FASHION

Skepta Graced Africa International Film Festival (AFRIFF) In Elegant Trad

Published

9 hours ago

November 21, 2024

Reporter

Skepta Graced Africa International Film Festival (AFRIFF) | fab.ng

Skepta made a grand entrance at Africa’s biggest film celebration, the Africa International Film Festival (AFRIFF). Through his attire, he showcased his deep connection to Nigerian culture.

The globally acclaimed artist donned an exquisite navy blue Agbada, tailored to perfection and adorned with striking royal blue and white embroidery highlighting the richness of his Yoruba heritage.

His choice of an Eastern native red cap added a distinctive flair, symbolizing his embrace of the Igbo culture. At the same time, adding a white necklace further enhanced the authenticity of his traditional look.

Skepta’s outfit was a testament to his impeccable sense of style and a deliberate nod to his dual cultural roots, blending elements of Western and Eastern Nigerian traditions.

The embroidery on the Agbada sparkled under the lights, drawing admiration from onlookers who marvelled at how seamlessly he combined cultural symbolism with modern elegance.

The bright red cap perched confidently on his head served as a bold statement of pride in his heritage, while the white necklace provided a subtle yet impactful finishing touch.

Nigerian paparazzi videographer Tosin Adeaga, popularly known as Coccolait, captured these unforgettable moments with his lens.

The up-close visuals reveal the intricate details of Skepta’s ensemble. Indeed, it emphasizes the craftsmanship and thoughtfulness that went into every element.

Coccolait’s expert videography showcases the textures, colours, and movements of Skepta’s attire as he mingled with attendees, further immortalizing this iconic cultural expression.

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With his appearance, Skepta not only celebrated the artistry of Nigerian fashion but also sent a powerful message about the importance of honouring one’s roots in creative and meaningful ways.

The moment was a true highlight of AFRIFF, blending tradition with the contemporary flair of a global icon.

Watch the photos below.

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For more updates, click here.

ENTERTAINMENT

It Hurts – Don Jazzy On Not Having A Partner

Published

2 days ago

November 19, 2024

Reporter

Don Jazzy opens up on not having a partner | fab.ng

Renowned music executive and record label boss, Michael Collins Ajereh, better known as Don Jazzy, recently expressed disappointment over his current relationship status.

On Monday, he took to Instagram to share his desire to participate in the popular “suspect challenge.” This social media trend involves couples playfully teasing each other. However, the 41-year-old entrepreneur lamented that he couldn’t join in the fun due to his single status.

“Suspect wants to do suspect challenge but no suspect partner,” he wrote. In the accompanying caption, the music executive lamented that “it hurts.”

This isn’t the first time Don Jazzy has publicly discussed his relationship status. In 2021, he revealed that he married Michelle Jackson, a UK-based writer and model, at the age of 20. Unfortunately, their marriage ended in divorce after two years.

“I fucked it up cos I was giving all my time to my music. Music became a priority instead of my family. We got divorced when I was 22 and it hurt,” he said.

Earlier this year, Don Jazzy explained that he has not remarried as he is currently focused on personal growth and self-development.

“I dey work on myself so that when my head correct, my babe go enjoy me,” he wrote in pidgin English.

A few months ago, Don Jazzy made headlines when a foreign investor acquired his record label, Mavin Records.

In 2004, Don Jazzy and his former partner, D’banj, co-founded Mo’ Hits Records. Following its closure, Don Jazzy established Mavin Records in 2012.

Mavin Records has produced and nurtured a roster of talented artists. They include Tiwa Savage, Reekado Banks, Korede Bello, Dr SID, D’Prince, DNA Twins, Ayra Starr, Johnny Drille, Crayon, Boy Spice, Bayanni, Rema, Lifesize Teddy, and Ladipoe.

To commemorate his 37th birthday in 2019, Don Jazzy unveiled the Mavin Creative Studios. The studio is a multimillion-naira mansion serving as the label’s corporate headquarters.

Mavin Records has received numerous accolades, including two consecutive MTV Africa Music Awards for Best Record Label in 2013 and 2014.

The label’s artists have also collaborated with international music stars such as Beyoncé, Selena Gomez, Kelly Rowland, and Chris Brown.