HELP!!! How do I get out of Debt???
Hi everyone,
I think for the most part I have had a pretty good life. I have 2 great kids, a good job and perfect health. However, throughout my life I have always struggled to stay out of debt. I would let my debt balloon for a while, refinance or consolidate, and then let my debt balloon all over again. The only difference the refinancing and consolidation made was to put me in a worse position then when I started.
I am happy to say that I am now coming close to being debt free. How have I done this you may ask? Follow my steps outlined below and you too will see incredible results. You must remember however that the key to this is discipline. Strictly follow this plan for 3 months and I guarantee you will reap the rewards. Ultimately, the way you need to reduce your debt is to drastically cut back on your variable expenses (those that are not fixed, like a mortgage).
You are probably thinking...what is he talking about? I don't waste any money. Yes, I thought the same thing, but I was dead wrong. This takes us to step 1.
1. For a 3 month period keep a record of ALL expenditures. Yes that means every penny. You will find you spend a LOT more than you think.
2. At the end of each month total up what was needed and what was not.
3. Get rid of uneeded expenses!!!
Here are some simple ideas to cut back on your variable expenses:
a) Bring your lunch to work
b) Cancel credit cards and/or transfer high credit card balance to low interest cards
c) Reduce your long idstance phone calls
d) Get a better cell plan
e) Cancel cable
f) Comparison shopping (never buy the first thing you see...compare!)
g) Prepare and follow grocery lists (oh this is soooooo important)
h) Stop eating out (this is the biggest money waster for most people)
i) Do your own household repairs
j) Shop for cheaper banking/ATM accounts
k) Shop around for less expensive insurances
l) Drink more water instead of pop
m) Stop buying coffee out
n) Less expensive car
0) Reduce newspaper and magazine subscriptions (or view on-line)
Let me know what you think everyone. It has worked for me!!! A little short term pain for long term gain.
Please follow the following link to join Agloco and get the chance to join a community with huge earning potential who are paid to surf the Internet!!!
www.agloco.com/r/BBDQ2921
I think for the most part I have had a pretty good life. I have 2 great kids, a good job and perfect health. However, throughout my life I have always struggled to stay out of debt. I would let my debt balloon for a while, refinance or consolidate, and then let my debt balloon all over again. The only difference the refinancing and consolidation made was to put me in a worse position then when I started.
I am happy to say that I am now coming close to being debt free. How have I done this you may ask? Follow my steps outlined below and you too will see incredible results. You must remember however that the key to this is discipline. Strictly follow this plan for 3 months and I guarantee you will reap the rewards. Ultimately, the way you need to reduce your debt is to drastically cut back on your variable expenses (those that are not fixed, like a mortgage).
You are probably thinking...what is he talking about? I don't waste any money. Yes, I thought the same thing, but I was dead wrong. This takes us to step 1.
1. For a 3 month period keep a record of ALL expenditures. Yes that means every penny. You will find you spend a LOT more than you think.
2. At the end of each month total up what was needed and what was not.
3. Get rid of uneeded expenses!!!
Here are some simple ideas to cut back on your variable expenses:
a) Bring your lunch to work
b) Cancel credit cards and/or transfer high credit card balance to low interest cards
c) Reduce your long idstance phone calls
d) Get a better cell plan
e) Cancel cable
f) Comparison shopping (never buy the first thing you see...compare!)
g) Prepare and follow grocery lists (oh this is soooooo important)
h) Stop eating out (this is the biggest money waster for most people)
i) Do your own household repairs
j) Shop for cheaper banking/ATM accounts
k) Shop around for less expensive insurances
l) Drink more water instead of pop
m) Stop buying coffee out
n) Less expensive car
0) Reduce newspaper and magazine subscriptions (or view on-line)
Let me know what you think everyone. It has worked for me!!! A little short term pain for long term gain.
Please follow the following link to join Agloco and get the chance to join a community with huge earning potential who are paid to surf the Internet!!!
www.agloco.com/r/BBDQ2921
posted by Dean at
8:44 AM
2 Comments:
Nice article. I'm working on paying off credit card debt. You have some very useful information.
Sherry
By
Sherry, At
May 26, 2007 at 8:31 PM
Thanks Starlight,
Stay tuned because I am going to post some further information on how to not only stay out of debt and save money, but also how to make money in your spare time using the Internet.
By
Dean, At
May 27, 2007 at 4:01 AM
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