Many people find themselves in debt and feel like there's no way out. Tremendous amounts of it can destroy your finances, relationships, and health. So what can you do about it? Here is a proven, 3 step debt elimination system that words every time. Use this system to give yourself some relief and get your life back in order.
(1.) Stop creating new debt! If you want to get out of a hole, you have to stop digging. Yes, you need to cut up the cards to get rid of your credit card bills. What can you do instead? Use a debit card. That way, you can reduce your credit bills without running up any more balances.
(2.) Decide to live 100% on cash. After destroying your credit cards, you need to develop a cash-only spending plan. Don't be tempted by the term "easy monthly payments" again. Find small ways to reduce your daily expenses.
(3.) Pay off your existing debt. In order to determine this step, you need to list all of your bills and add them up. Next, list the balances of each bill and add them together. After that, divide each bill by your minimum monthly payment. This will give you an estimate of how many months it will take to pay it off. Find a way to reduce expenses and apply the savings to your first debt. Generally speaking, it's best to pay off the one with the smallest balance. After your first bill has been completely paid off, roll the entire amount into the second one. Keep this rolling process going until you experience the debt relief you desire.
Contrary to what you might have been taught, destroying your debt is the best investment you can make. This is the best solution that can literally turn your debt into wealth, especially if you have a mortgage.
| How would you like to pay off all of your credit debt, including your mortgage, faster than you've ever thought possible? Visit http://www.debt-destroy.org to sign up for a free eCourse. By Michael G. Harris |
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