If you want to get out of debt, you have to stop
doing the things that got you in debt. Charging. The American
way of life.
Right now, go cut up and throw away all
your credit cards except one. Determine that you will pay it
off, and if you use it for emergencies or travel, pay it off
"What if an emergency comes up?" I will
show you later on in this website how to handle emergencies
without the help of Mr. Visa and Mrs. Mastercard.
Putting down the plastic is much easier than pulling
cash out of your wallet or purse, or writing a check out of
your checking account.
Impulse buying will destroy
your financial plan. Stop doing it.
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Now the first step in getting rid of these
credit cards and paying them off begins with you sitting
down and making a list of all your consumer debts.
We are talking about debts that can be paid off
completely. Monthly expenses such as food, utilites and
taxes are not to be included in this list. We will
attempt to help you control these expenses, but they are
recurring expenses and will not be dealt with in this
Now write down each account's balance
and the monthly payment. Make yourself a chart with name
of the debt, total balance, monthly payment, and pay off
priority and number months to pay off.
several forms in debt free books to help you with this.
I used a course published by a fine company in the
North, and it was very reasonable. I will be glad to
give you their web site if you would like to order it
So group your debts in order of their
size. Smallest to the largest. List all bills, charge
cards, furniture payments and car payments.
let me teach you what I have called the "snowman