Getting Out of Debt

We are going on our 2nd quarter of 2013. Have you recovered from the expenses of 2012. Below are some tips on how you can Get out of Debt.

Getting out of DEBT

Debt is a major problem for most people. Sometimes, it becomes a habit. Below are 13 steps that I have formulated that can get you out of the rut.

1.   Face the problem

2.   Commit to getting out of debt

3.   Have a time frame

4.   Take inventory of all your debt

5.   Record all your expenses

6.   Determine your needs and wants,

7.   Let go of the wants

8.   Use the wants money to pay off your debt

9.   Choose the debt with the highest interest and pay it off first

10.   Talk o your creditors and ask for a workable payment scheme

11.   Stop using your credit card, pay in cash

12.   Have another source of income to help you pay off

13.   Learn from your experience & make it a life choice