Feb

Get Out of Debt Fast 3 Easy Steps to Eliminate Your Debt

By admin

Get out of debt fast read this and quickly learn How you can eliminate your debt and live a debt free life in 3 steps and be financially under control.

How do I get out of debt?

This is without a doubt the $64,000 question. If you follow these three easy steps you can be debt free generally within a matter of months.

Step 1. Stop buying things you don’t need with money you don’t have.

This is the biggest downfall to personal finance that I have ever seen. With the advent of credit cards people can now buy anything they want and they don’t have to worry about paying it for years. You could pay several thousand dollars for a big-screen TV and pay 20 or $30 with what they call a minimum payment every month while enjoying your TV.

The problem with this program is the debt continues to grow and finally you will get to the point were you will be broken financially.

Step 2. Getting into the habit of spending less money than you earn.

Yeah right. I wonder if anybody will accuse me of being un-American for making that statement. I tell people my church live within your means and as your means grow your financial spending habits can grow. God wants us to have nice things but He does not want us to be in debt.

The people in my church right now are in a wonderful position in as much as everybody in my church is being provided for financially. But this does take a long time to get to this point and what we had to learn to do was to discipline ourselves and to increase our faith for God’s provision.

Step 3. Use the difference between what you earn and what you spend to pay off your existing debts.

If you are living within your means there will be money left over at the end of every month. Use this money to pay down your debts.

The way to do this is take the smallest debt you have and double or triple on the payments until it is paid off.

Then take the next smallest bill you have which is generally a credit card, and use the money that you are paying on this bill plus the money would play paying on the first bill and pay on it until it’s paid off.

Then take the third smallest bill, or credit card and make the payment on it plus the money you are making from the first to smallest cards and pay on it till it’s paid off.

And so on and so on and so on until you are completely out of debt.

You will be amazed at how quickly your credit cards and the rest of your bills will be history.

Jimmy says if you will follow these three simple steps you will quickly be out of debt and your financial life will be under control.

Whoa Jimmy?

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