Finally Get Rid of Debt!

Wednesday, February 9, 2011

Start Getting Rid of Debt- Finally Get your Peace of Mind Back

Most of us have debt that we would like to get rid of. Getting rid of debt is not an easy task trust me it takes time, effort and dedication. Debt is like quicksand once your in it you go deeper and deeper until it consumes you. I do apologize if my outlook seems negative but that’s just the reality of a life controlled by debt. These basic steps will help you to finally take control of your debt and reduce it.

Make a list of all your debt- This is the first and most important step you need to take to start getting rid of debt. You need to know who you owe and the amount you owe them. How much the interest rate is that you are paying and the minimum monthly payment. Make sure you keep a copy of the list posted somewhere visible so that you are reminded everyday.

Track spending and create a budget- You need to know where all your money is going if you want to manage it properly. Tracking your spending makes you aware of where your funds are going on a daily basis. Some people say that budgeting is only for poor people. Actually, budgeting is for individuals that are smart spenders because they know exactly how much they want to spend. When you create a budget you will know your spending limit each and everyday.

Always spend less that your income- Many people got into debt by spending more than what they earn. You need to spend less than your income. Follow that golden rule and you will always have money left over to pay the bills.

Pay off the smallest debt first- When you pay off the smallest debt first it gives you a sense of accomplishment. This will provide you with the drive and the motivation you need to continue getting rid of your debt.

Try to give up 4 costly things you can do without- This can be cigarettes, alcohol or anything that’s not a necessity. You can use the extra cash to pay down your debt monthly. Trust me there is always items you can do without just keep in mind that being debt free is the most important goal in your life.

Cut down credit card use- Try to use your credit card as little as possible. You don’t want to add to your debt by purchasing items with your credit card. Credit cards are very tempting. It’s like having cash laying around you can’t help but use it. If the temptation becomes too much to handle then you’re better off canceling the credit card.

Tell a family member or friend your goal- Let someone close to you know how important it is for you become debt free. That person will encourage you so you won’t give up because some times we all need someone to believe in us.

You will make mistakes- Learn from your mistakes and move forward. Don’t even think about giving up those two words should not be in your vocabulary.

If your debt is overwhelming and you feel the need to use a debt settlement company then I would recommend Curadebt. Curadebt has a long history of helping clients become debt free. I have researched this company thoroughly and it’s the only one I would recommend Get a Free Debt Consultation Now to figure out why.


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