How to Get Rid of Debt

Do You Know How to Get Rid of Debt? – 10 Helpful Tips

See how to get rid of debtDo you know anyone who is living a debt free life? Do you want to live without the stress of meeting loan obligations every month? Read on and see how to get rid of debt once and for all.

Debt-free individuals usually share the following ten similar characteristics that enables them to live below their means. There’s nothing here that is so highly technical that prevents anyone else from copying.

  1. Start paying attention to details – As an example, if you don’t review your monthly credit card statement closely, there may be charges on there that shouldn’t be. Debt free individuals monitor their personal finances very carefully.

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5 Benefits of Debt Free Living

Debt Free Living – 5  Benefits Await You

Debt free living can be achievedAre your debts causing stress and you want a normal life? Do you struggle every month just trying to make the minimum payments on your credit cards? Do you really want to achieve debt free living?

It’s so easy in today’s life style to get caught up in the “charge it” philosophy. You see your friends and acquaintances driving that new car or buying a very large house with new furniture. You think to yourself, if they can do it, so can I. What you don’t see is your friend’s , large mortgage, car loan, and several maxed out credit cards used to furnish that new house.

The average American is used to living with debt. Credit cards are used to buy things we don’t need, car loans for seven years because we like a luxury vehicle. Larger homes than View full post…

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Emergency Fund or Debt Reduction

Should I Pay Off Debt With All of My Emergency Fund?

 Set up an emergency fundYou can ask several financial planners this same question and you will get different responses. Some will advise you to get rid of all credit card debt. Some will say to setup an emergency fund first to cover such expenses as a major car repair or some large expenditure in your home.

What are you supposed to do, however, if you have an emergency fund and the balance in it is just enough to repay all of your credit card debt? Wouldn’t the credit card debt with very high interest rates be considered an emergency expenditure?

Don’t deplete the emergency fund to repay debt

The general consensus here is no, don’t use the entire balance of the emergency fund to repay your credit cards. Instead, just use some of the cash savings to repay some of the debt. Keep some of the savings available for a bona fide emergency.

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Debt Free Living | Get Rid of Debt

Debt Free Living Doesn’t Have to Be Hard – Read These 9 Tips

Debt free living can be achievedThe economy in the United States for the past several years, has shown no sign of improvement. In addition to that, American families have been in a buy now, pay later habit. If we want to experience debt free living, some drastic changes in our spending habits need to be in made.

Many of us spend more than we earn, and have no hesitation in taking out a credit card when we see some item that we want. Overall debt is on the increase and many contemplate bankruptcy to get out of their financial difficulty.

So many others live on the financial edge and barely exist from paycheck to paycheck, letting credit card debt fill in the gaps. Folks, this insanity must come to a screeching halt. If we want to stop this perpetual wallowing in debt, and enjoy a debt free living life style, then we have to do a serious assessment of our financial habits.

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Getting Out of Debt Quicker by Budgeting

Getting Out Of Debt Faster By Using These Simple Budgeting Tips

Getting out of debt should be a priorityBudgeting is one of the most effective ways to prevent debt overload, but can also be used when getting out of debt. Budgeting doesn’t cost a dime, but does require commitment and a strong ability to rise above the temptation to buy unnecessary items.

In a nutshell, budgeting teaches consumers to spend less than they earn. Unfortunately, many Americans are not familiar with the term ‘household budget’ or the concept of living within their financial means. Failure to spend less than earned often results in massive credit card debt, real estate foreclosure, and personal bankruptcy. View full post…

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