|
|
|
|
|
|
|
|
How Can I Become Debt Free? |
|
|
|
Written by Stuart Simpson
|
|
1. You must change. You have to change your spending habits and spend less than you make no matter what. Its good for everyone. Especially if you are in debt. I know it’s hard to do with our current lifestyle of keeping up, but when you are debt f....
How Can I Become Debt Free?
by: Stuart Simpson
1. You must change. You have to change your spending habits and spend less than you make no matter what. Its good for everyone. Especially if you are in debt. I know it’s hard to do with our current lifestyle of keeping up, but when you are debt free, it’ll be much easier.
2. Cash only. You have to go to a full time cash only basis. What cash you have to spend is all the cash you have. Once its gone, it’s gone. You have to spend correctly. Don’t spend it all before your next payday.
3. Document. You have to document your spending to see what you are buying. This will help you see if you still have a problem and where the money is going. This will allow you to control your spending if you see all of your monthly spending in one place.
4. Attack Debt. Pay off credit card debt first. The highest interest rate must go! Pay them off and then work towards assets that appreciate in value – like your house. Pay it off last.
5. Lower your interest rate. I called the credit card company to tell them I was going to cancel their card as I consolidated and paid off my other cards. To my surprise, they offered to drop the interest lower than all my other cards so I put all those higher rate cards on this lower rate card. They did that just for the asking and now I’m paying less interest and more towards the principal! Go team!
6. Plan. You have to have a plan and may need to create a payment plan. There are tons of software out there to look at and use, but don’t hide behind the software on trying to find a debt free solution. Plan on paper if you have to. Just do it.
7. Stay the course. Don’t waiver. Spending less and paying off bills is a drag, but it will get better soon and you have to stay strong to make your life even better. Keep your goals. Write it down. Check your progress. You can become debt free!
Sometimes debt can become overwhelming and even scary at times. If you spend too much, you must make changes before it gets out of hand. You can get out of this pit of debt and become debt free and have even more buying power.
About The Author
Stuart Simpson is consolidating information to help people become debt free.
http://www.debt-consolidation-review.com/articles/
This article was posted on March 08, 2005
|
|
Random News |
- Low Speed Impact "Injury" Facts
Low Speed impacts are those that take pace at speeds under 10 MPH. There’s often little (if any) visible Property Damage done to the rear of ones motor vehicle. However, those who are struck (especially in the rear) often have injuries, especially....
Read more
- Selling Effectively on Ebay Motors
Remember back when selling online was a new experience? Dealers tried everything to sell their vehicles online. Today’s market has expanded to include several hot online marketplaces but there is the largest online marketplace, Ebay. Ebay has e....
Read more
- Effective Online Car Sales on Ebay Motors
Remember back when selling online was a new experience? Dealers tried everything to sell their vehicles online. Today’s market has expanded to include several hot online marketplaces. The largest online marketplace is Ebay. Ebay has evolved in....
Read more
- FAQ on Modifying the Toyota Supra
What does BPU™ stand for? (BPU™ is a trademark of SupraStore.com)Basic Performance Upgrades. These modifications are: A full length three inch down-pipe (with or with-out high flow cats), 3” (75mm) or bigger cat-back exhaust system, raised boost....
Read more
|
|
