7 Sensible Steps To Eliminate Debt
One of the #1 problems in America is the gripping claws of Debt.
It has caused numerous marriages and relationships to break up, uncountable bankruptcy filings, emotional stress, deep states of depression and even some fatalities, sad to say.
But don't let these repercussions get the best of you.
Debt is only what you allow it to be.
It is an energy that can over-take you or it can be well over-taken by you.
There are 7 sensible approaches to over-take your debt, if you pace yourself and stick to the plan.
1) Always give something back; whether it be to your church, your community, a person or an organization in need.
2) Pay a percentage to yourself, then save and invest at least 5 - 15 percent of your earnings, depending on the status of your financial budget.
3) Associate yourself with positive people.
Attitude and action plays a major part in how you handle and feel about your finances.
Get rid of negative energies.
See yourself debt-free.
4) Develop a written budget plan for each month that details how much is coming in and going out.
It helps you to set financial goals if you see in writing the course of flow for your money.
Discipline yourself to keep accurate files for all purchase receipts.
5) Pay more than the minimum payment on credit cards; decreasing one credit card at a time.
Whenever one balance is eliminated, take that same amount and add it to the next debt.
Interest rates alone can sometimes be greater than the set minimum payment.
If possible transfer credit card balances to lower interest rate cards and pay on time to avoid late fees.
6) If you can be classified as a credit-cardaholic, by all means cut them up or lock them away.
You must take hold of impulse buying.
If possible use only one major card where you can keep the balance limited to what you know you can afford to pay back at the end of the month.
7) Stay patient, positive and steady on your new path to debt elimination and wealth creation.
Don't let your emotions or environment steer you from your set goals.
These steps are not unattainable, just keep the faith, the formula and the focus.
It won't happen overnight but with time and effort, it can be done.
Debt is created with a slow process therefore has to be eliminated with a slow pace and process also.
It has caused numerous marriages and relationships to break up, uncountable bankruptcy filings, emotional stress, deep states of depression and even some fatalities, sad to say.
But don't let these repercussions get the best of you.
Debt is only what you allow it to be.
It is an energy that can over-take you or it can be well over-taken by you.
There are 7 sensible approaches to over-take your debt, if you pace yourself and stick to the plan.
1) Always give something back; whether it be to your church, your community, a person or an organization in need.
2) Pay a percentage to yourself, then save and invest at least 5 - 15 percent of your earnings, depending on the status of your financial budget.
3) Associate yourself with positive people.
Attitude and action plays a major part in how you handle and feel about your finances.
Get rid of negative energies.
See yourself debt-free.
4) Develop a written budget plan for each month that details how much is coming in and going out.
It helps you to set financial goals if you see in writing the course of flow for your money.
Discipline yourself to keep accurate files for all purchase receipts.
5) Pay more than the minimum payment on credit cards; decreasing one credit card at a time.
Whenever one balance is eliminated, take that same amount and add it to the next debt.
Interest rates alone can sometimes be greater than the set minimum payment.
If possible transfer credit card balances to lower interest rate cards and pay on time to avoid late fees.
6) If you can be classified as a credit-cardaholic, by all means cut them up or lock them away.
You must take hold of impulse buying.
If possible use only one major card where you can keep the balance limited to what you know you can afford to pay back at the end of the month.
7) Stay patient, positive and steady on your new path to debt elimination and wealth creation.
Don't let your emotions or environment steer you from your set goals.
These steps are not unattainable, just keep the faith, the formula and the focus.
It won't happen overnight but with time and effort, it can be done.
Debt is created with a slow process therefore has to be eliminated with a slow pace and process also.
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