Get rid of debt with simple stepsWritten by Jakob Jelling
Someone who is not in debt appreciates a telephone ringing, because a person without excess debt does not fear creditors. A person without excess debt goes to mailbox with general malaise, and doesn’t feel stomach clenching fear when a handful of bills appear. Someone without a lot of debt can enjoy shopping, can handle unexpected, and sleeps better knowing they have their ducks in a row. Life without debt is difficult to conceive or manage for many people, but a few simple steps can get anyone on their way to being debt free.The first step towards decreasing debt is to stop creating debt. People who amass a lot of debt often get into a mindset of spending tomorrow’s money, but that only leaves today feeling pinched. Examine spending habits and be aware of what items are necessary for today, and which items are not. Getting out of old debt is easier to manage if a person is not actively creating new debt. The next step to getting out of debt is to organize all bills and outstanding balances owed. When a person organizes their bills and has a firm grasp on what they owe, they can make better decisions about where their money goes. Also, money spent on late fees, overdraft fees, or over balance fees is money given away in vain. A person actively trying to get out of debt will do so much more effectively if they are paying their bills on time. To aide in organization process, a person can buy special folders or create a filing system to keep track and organize bills. A desk calendar marked with bill due dates will help ensure a person committed to getting out of debt doesn’t miss a payment and earn additional fees or accumulated interest.
| | Is There Any Way To Get Out Of Debt?Written by Joseph T Farkasdi
In this era where we are bombarded daily with commercials on television, radio, billboards, through email, not to forget flyers slipped under car's wiper blades while shopping at mall, it's no surprise that so many of us find ourselves endlessly in debt to services and products offered by others. How can we refuse, when we're baited with juicy orange carrot of '0% APR' up to a certain amount or for a specified time, or 'no money down' and 'easy installments' of just so much per month?Before we know it, we're in debt. We have credit card payments, consumer loan payments, car payments, a home mortgage, and only enough money coming in to pay minimum amounts each month. Then, we start noticing a different set of ads being directed at us from every marketing angle imaginable. Get a home equity loan and pay off your credit cards, some suggest. Start your own home business using our 'unique, proven' system, and all your financial problems will be gone before you know it. But, are these really solutions that most of us so desperately need? Far too many of us are as quickly bought by these financial rescue ads as we were bought by ads that inspired us down road to financial trouble. And, when we've tried more than one and found ourselves still dealing with monthly minimum payments or even possibly just finding ourselves deeper in debt for having tried so many systems, we end up asking ourselves what were doing wrong. Some who are financially struggling do take route of taking a loan to pay off loans already made with others, and get instant gratification of available credit all over again. Or building a home business that does generate a positive return of some sort, giving them more financial freedom to spend freely on themselves and their loved ones. But, by doing this, are we really resolving problem? And, what about those that don't have or want these options - regardless how many happy testimonials from clients are shared? Not everyone owns a home or, for ones that do, may be leery about idea of taking out a massive loan to pay off many smaller loans. Not everyone wants to start a home based business, they just want freedom that comes with not having a lot of debt every month. And, most importantly, quick fix solutions to life's financial troubles doesn't give any insight into how we got ourselves into this financial situation in first place, and how to avoid it now that we have spending capital that comes with available credit again. So, for many of us who are seeking a genuine solution to our financial woes, what is answer we're looking for? The answer may be a lot closer than we think. It first starts with developing awareness of where our paychecks are going and to whom. Yes, ol' balance sheet thing, where we keep a detailed log of our spending activities. And, where we determine by simple addition just how much we presently owe to those who have loaned us money for life pleasures and necessities. Now that we know where we actually are, we can now determine just where we want to be. But, just doing this doesn't solve problem. Rather, we've managed to illuminate it, so what do we do from here?
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