Dealing With Debt – Overcoming Your Problems

Debt steals your freedom; it is even more virulent than cancer. You should do everything humanly possible to get out of debt.

You are in debt today probably because you lived beyond your means in the past or got into a tricky deal that got you into debt. The three things I hate the most in this world are debt, poverty and disease. The debt could have come from your inability to control your impulses or as a product of the unexpected. Whatever the case, you have a debt and we must deal with it directly and eliminate it.

My guide will not only get you out of debt, but it will get you out of debt much faster than you ever imagined.

Take the following steps to get out of debt now:

1. Control your expenses

You can’t spend money you don’t have. Therefore, if you want to be debt free, you must spend less money than you earn. Start by removing the things you don’t really need from your preference scale, ie. Learn the act of prioritizing. How much money would you have to spend if you cut out newspapers, magazines, cable TV, second cars, and cut back on eating out?

2. Decide how you spend your money

Every charity, church, and good program is asking for money. “Just give a dollar.” These dollars add up. If you have a job and a good income, you can spend as much as you can. But if you’re trying to get out of debt, don’t let other people tell you how to spend your money.

3. Make a list of all your debts

This is a very important move; It shows your seriousness to be debt free. Get a sheet of paper, Google sheet, or notepad on your computer. This list will help you get a decent idea of ​​how much you owe. This takes the guesswork out. Another important aspect is to classify this debt from the smallest to the most expensive.

4. Set periodic goals

Being goal oriented is the best gift you can give yourself, in all spheres of life. Goals help us break down the really tough stuff into tiny pieces. From your income you can set a goal to pay a certain percentage monthly. The big picture of this goal oriented mission is to pay off all your debts and regain your freedom. Once these goals are set, it will be almost impossible to ignore them. This will propel you to achieve your goals faster than you might have originally anticipated.

5. Start paying off your debt from highest to lowest

Take every penny you receive above your basic living and any savings and apply it toward your debt. Start paying the highest and then reduce to the lowest. One by one they pay their debt. This will give you confidence and help you become debt free.

6. Sell almost everything

Sell ​​the things you don’t need to raise money. It could be your TV, used books, furniture, clothes. The goal is to raise more money and pay off your debt. There is always time for things when you have no debts, so sell them and pay off your debts.

7. Work, work, work

This one is amazing; To pay faster you can work more. Overtime, second jobs, babysitting. More money simply means more debt payment.

Let me stop here for now.