There is no fast and easy debt relief solution. Don’t listen to the various shady companies who claim they can get you out of debt quickly and with minimal effort on your part.
Those misleading claims sounds too good to be true because they ARE too good to be true.
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"Who goes a-borrowing goeth a-sorrowing."
- Thomas Tusser |
You already know deep down, that there’s no free ride out of debt. You got yourself into debt; now paying off those debts one by one is the only real debt relief solution.
And why shouldn’t you have to pay them off? Yes, the credit card companies actively target college students and other young people because they know they’ll borrow more than they can afford to pay back.
Yes, it’s not fair. But YOU are the one who signed the application and racked up the debts, and now YOU are the one who must pay them off.
This message is blunt, but it’s true. The sooner you take full ownership of your behavior, the better. You have to acknowledge that you have (or used to have) poor spending habits.
You must admit to yourself that you need to change your ways when it comes to handling money. Be honest with yourself and strive to do better - that’s your one and only, guaranteed, debt relief solution.
Get yourself going on a specific debt reduction plan. The best one is to make a list of all your debts from smallest to largest, then start aggressively paying off the smallest one first.
Pay everything you can on that smallest debt every month while making just the minimum payments on the others. When it’s finally paid off, apply that total payment to the next smallest debt, and so on.
Soon you’ll have momentum against your debt and your debt repayment will “snowball” as you move to progressively larger balances.
In the meantime, of course, you must reduce your expenses and increase your income. You will have to make sacrifices in order to win in the shortest time period. Honestly, all effective debt relief solutions involve personal sacrifice.
You will have to cut out the expenses you don’t truly need, and you will have to work harder to make more money.
So how do you keep yourself motivated? By keeping your eye on the prize! Becoming 100% debt free!
Keep remembering how wonderful it will feel to be truly OUT OF DEBT.
Think of the peace of mind you’ll have. Think of all the extra money you’ll have once you don’t have to sign away half your paycheck to your creditors every month.
There will be sacrifices now, but in the end it will all be worth it. Start living like no one else you know today, so that tomorrow, you can live like no one else you know.
"He that is of the opinion money will do everything
may well be suspected of doing everything for money.”
- Benjamin Franklin |
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Debt is NOT your friend. It's not a wonderful "tool" for building wealth. That's a myth.
