I have spent hours researching the numerous ways to eliminate debt.
Getting out of debt is so much harder to do than getting into it. Boy, is that obvious.
I have found that there is no one right way to pay off bills. The kind of debt you have may be the deciding factor in HOW you go about getting out of it.
You are probably thinking, "Hey! Debt is Debt!" No it is not. Are you trying to pay off "UNSECURED" or "SECURED" debt? Unsure? Here's the difference. (for most scenarios)
Let's just say this, shall we? We want to pay all of our bills, but we REALLY REALLY don't want anyone to come take our stuff!! You have options! You can pursue credit card debt reduction,
debt reduction programs, and personal finance budgeting.
The first step to eliminating debt is to stop using credit cards and start using cash. Everyone uses credit cards for everything! Don't you just love that VISA commercial, with the song, where everyone in the store is merrily going along----until the poor guy with cash shows up? It all comes to a screeching halt! BE THAT GUY! Unless.......you use my favorite, the bank debit card! All the perks of a credit card with none of the nasty side effects!
The only way to get a handle on your debt is to start a budget and stop frivolous spending. When you are ready to face some cold, hard facts, check out our financial calculator page.
One of the ways to get some breathing room is through a debt consolidation loan. It may save you thousands of dollars in interest and it will put an expiration date on your debt. The trick is to not spend all the money you have saved after consolidating your debts! If you do, you will end up in twice as much debt as when you started.
There are more ways to eliminate debt here. Coming soon, a format for all of us to share ideas!
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