| You Can Be Debt Free in 3-5 Years |
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| Written by Leslie Patton |
| Thursday, 30 April 2009 17:17 |
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Yes you can be debt free. Don't feel like it's just you because the average debt for all of us has increased by 85%. Each household has $10,000 or more just in credit card debt.
Yes you can be debt free. Don't feel like it's just you because the average debt for all of us has increased by 85%. Each household has $10,000 or more just in credit card debt. When it comes to spending you must take care of the basic needs. These needs would be food, a place to live, and maybe some type of transportation to get you to work. Now that doesn't mean this has to be a brand new car, a new house, and a fortune spent on groceries and eating out. Your going to have to make some sacrifices if you are serious about getting out of debt. You may have to trade in the new car for a used one. You can start cooking more at home. Make a list of your meals for the next two weeks and go to the grocery store and just buy the things you need on your list. So now your going to have to budget. Go through all your bills and compare them to your income and see how that comes out. Are you spending more than you are making? If that's the case you have to quit spending or start making more money. Once you have your budget figured out you have to put at least $20 in aside to be spent on you. Spend it on something you really want. Only use the set amount and only do this once a month. This helps me from feeling so deprived while I'm on a budget. Otherwise I get tired of being on a tight budget and go blow a hundred dollars. This is a much better alternative. I almost forgot, quit using your credit cards! Stop spending money that you don't have. Pay everything with cash or debit. I had to put mine away and quit carrying them with me. Now when it comes to paying credit card debt you have to get out all your statements and look at your balances and also your interest rates. Depending on what you have you can do it one of 2 ways. You can start paying off cards with the lowest balance or you can pay off credit cards with the highest interest rates. The most important thing is that you pay the minimum on all other cards and put the rest towards that one card. When you pay it off do the same with the next only add the minimum that you were paying on the previous card to the total on that one card. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Wouldn't it Be Nice to Be Debt Free! There is a more specific guide to help you that is Guaranteed to Get You Out of Debt in just 3-5 years. This is not a scam it has a 97% Success Rate! Be Debt Free in 3-5 Years! For More Debt Help and Money Saving Tips check out my lens http://www.squidoo.com/debt-free-4 |
| Last Updated on Friday, 01 May 2009 19:41 |