Have you found yourself in debt in Qatar? Are you scared that you will not be able to get out of it? Many of us face this very situation.

Even though it is transient and many people come here to make a quick buck, Qatar has this tendency of luring its residents in with all things extravagant.

Many people that come here sometimes find that in order to impress others they need to live beyond their means, or they simply fall into this lifestyle because the temptation is so easy. Banks are more than willing to give credit card on top of credit card and loan on top of loan until you find yourself drowning in debt.

Everyone has their own formula for getting out of debt and many will give advice. If it is serious, think about consulting a professional or consolidating your debts. Debt is never a good thing, especially not in a place where bankruptcy just doesn't exist.

If you are in debt and are looking at curbing your spending, here are a few tips:

Dubai_City_Chick advises: Speak to the banks you owe money to (meet with them, not over the phone) and try to negotiate a lower interest rate/monthly charge. The fact that you're willing to pay your debts back rather than run away shows your clear intentions and the banks hopefully will be able to help you out somewhat.

Gorobattie says: Liquidate your assets - gold, furniture, cars, motorcycle... anything you can sell and get cash for it. You can use a scooter to go to work, take public transportation, start cooking and freezing meals for the week, no going out for dining, cancel your TV or streaming services subscriptions, and perhaps sell the TV as well.

The Dangerous Blond's advice are as follows:

• Move house - this is likely your biggest expense here. Speak to your landlord to see if you can break your contract early (perhaps find a new tenant to take over the lease) and rent somewhere cheap. Find a 1 bed in a cheap area and you will save loads - now is not the time for large villas in prime locations. Your bills will be cheaper too.

• Forego all coffees and eating lunch out - a couple of coffees per day and lunch out at work easily adds up to 100aed a day. Instead, bring your own lunch in from home.

• Sell your car - if you have 2 cars, sell one and share a car to work. If you have a huge gas guzzler, consider getting a more economical car. You might even have equity in your car (I had 40k in mine when I sold it).

• Give up shopping and buying any unnecessary luxuries like manicures and pedicures.

• Cut up your credit cards - pay each one off, one by one OR transfer the whole balance to the one with the lowest interest rate.

• Draw up an honest account of your monthly expenditures against your income. Obviously the outgoings should be less than the income. You should see here where you're hemorrhaging money.

• Get rid of any household help - If you have a maid, let her go, and even if you get a maid in every week, clean your own home.

We hope that this advice helps you in getting out of debt or in saving money. If you need any other advice visit our forum as the ladies are very helpful.