Eliminate Debt And Live Life

The faster we are able to eliminate our debt, the happier we will be. This seems like a pretty basic concept. But eliminating debt is sometimes easier said than done.

Lets go over a few tips for getting rid of or drastically reducing credit card debt to make our lives easier. Large numbers of credit cards in our wallets, give us easy access to debt. Credit cards and debt are not real money.

Every time you whip out that card, all you do is increase your stress, increase your debt, and decrease your ability to have a happy future and a secure life. It is important to change the way we think about debt, to eliminate the debt, and to change our spending habits. There are no friends in the credit card companies. Removing your money from your posession is their only goal. If that sounds a little harsh, the truth is that this is war, and for the most part, the companies that offer credit in a predatory fashion, and that includes all of them, are the enemy.

And they are winning. Credit card companies are not your friends. There are no good offers for products from credit card companies. People will argue with this, but there is a simple test to determine whether or not you can afford to make a purchase. Ask yourself, do I have the cash, yes I said CASH, to buy this right now? Thats it. If the answer is no, then you shouldn't buy it.

Mortgages and auto loans are areas where we want the best interest rates. If your consumer debt is too high, both of these areas will be difficult. If our consumer debt is really high, debt elimination programs may be necessary before we even buy things like homes and cars. If you can avoid debt altogether, you have really dodged a bullet.

A convenience card, or an emergency card is fine. I keep it at home in my desk drawer. It is used for emergency car repair, maybe new tires or other items I cant avoid purchasing. If you can afford your emergency expense in cash, then you are still better off.

Debt elimination is not quit as easy as just avoiding the debt in the first place. When your debt becomes a problem, you are better off destoying all but your lowest interest rate card. Make some room in your budget to begin paying off your highest rate card, even if it means working more, or spending less.

Whatever you do, dont use the card! If you have 5 credit cards, make the minimum payment on 4 of them. Make a higher payment on the one with the highest interest rate. When that card is paid off, apply that payment to the next card. Remember, to pay off a card, you must pay higher than the minimum payment. Some card companies offer zero interest on balance transfers.

Be careful, make sure its not a limited time offer. But if you get one of these, take it. Transfer as much as you can to the lower interest rate card, and then just dont use the card! You can eliminate your debt fairly quickly at zero percent interest. Just think how much better you will feel after you eliminate your debt, and owe nothing to anyone.

If debt has gotten out of control and you feel trapped, there is a solution. Bankruptcy is expensive and costs more than just your money, it will destroy your credit rating for at least 10 years making it nearly impossible to buy a house or car. Learn how to Eliminate Debt And Get Your Life Back!

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