How to Eliminate a Car Debt

• 1). Write down in a notebook a list of current bills and weekly expenditures. Include the car payment.
  
  
• 2). Write down extras such as renting games or movies and eating out. Plan to cut these expenses in half if you can't tolerate a period of sacrifice.
  
  
• 3). Highlight bills and expenditures that are not absolutely necessary. Remember the principle, don't forget it. After your car debt is eliminated, funds will be available to return to some of life's simple pleasures.
  
  
• 4). Call the cable company, trash service, or cell phone company and cancel any of the unnecessary bills and expenditures that are highlighted. If you cannot cancel the entire service, reduce the amount of service. For example, a cell phone bill of $100 for 1,000 minutes can be reduced to $50 for 700 minutes.
  
  
• 5). Calculate the money saved from the elimination of services and extras.
  
  
• 6). Add this amount to the car payment. If you make enough concessions, you can eliminate your car debt in half the time it would take to pay it off making minimum payments.