Drug testing

How to Become Debt Free

In today's consumer society it is all too easy to get into debt. If you have a few credit cards, car loan, mortgage and possibly student loans it can easily add up. If your income is reduced for any reason you could find yourself in serious financial difficulty.

Your goal should be to become debt free. It is possible but will require a major change on how you think about money. You will also have to change your spending habits and spend less money than you make each month no matter what. If you have a tendency to over spend, limit your spending by relying on cash instead of credit cards or store cards. Set a monthly spending budget.

Next you need to pay off your high interest unsecured loans, credit cards and store cards. You can use a debt consolidation loan or if you own your own home, get a home equity loan. A debt consolidation loan enables you to replace all your current high interest loans and credit card debt with one low interest loan which can cut your monthly repayments by up to 50% and put money in your pocket.

Debt consolidation is a very useful tool if you know what you are doing and understand how you got into debt in the first place. It is all pointless if you continue with your old spending habits as chances are you will end up in even more debt in just a few years.

For more information on debt consolidation and becoming debt free see Get out of Debt

(c) Noel Hynes, 2005. Reprint rights granted to copy and publish this article as long as the article and by-line are reprinted intact.

limousine chicago service
In The News:

Top Ten Reasons People File for Bankruptcy

1. Eliminate the legal obligation to pay many of your... Read More

Debt is The Master of Souls

Wholeness requires separation. In order for you to experience yourself... Read More

Tips For Saving Money

Still living from pay to pay? Or envying those great... Read More

Five Major Ways to Save Money

There are two main roads to improving your personal finances:... Read More

Bankruptcy - The New Scarlet Letter

Nathaniel Hawthorne's book The Scarlet Letter states in Chapter 2,... Read More

Credit Repair? Its All Up to You

Log onto to a search engine such as google.com and... Read More

Eliminate Your Credit Card Debt, But How?

Can a debt consolidation loan eliminate your credit card debt?... Read More

Bouncing Back from a CCJ

Should you be unfortunate enough to face a CCJ ?... Read More

How to Get Triple A Credit in 25 Days

Good credit is everyone's dream. A wise use of credit... Read More

British Families and Debt

There is current concern from the Bank of England that... Read More

5 Methods Toward Reducing Your Debt

Decreasing your debt is paramount to having a good credit... Read More

Start Small and Your Wealth Will Get Bigger

We've all heard the phrase, "You have to start somewhere."... Read More

Benefits and Drawbacks of Bankruptcy

Outlined below are some of the benefits and drawbacks of... Read More

Debt: Dont Pay Your Minimum Balance

Almost all Americans carry credit card debt. Actually, over 40%... Read More

Repair Bad Credit Yourself

In March 2005, the U.S. financial services industry succeeded in... Read More

Debt Settlement -- Why the Critics Are Wrong

After October 17, 2005, a lot of people are going... Read More

New Bankruptcy Law ? Where?s the Consumer Protection?

On April 20, 2005, President Bush signed into law the... Read More

Personal Bankruptcy: Last Option To Legally Stop Bill Collectors

Do you have stacks of unpaid bills?Are you in debt?Are... Read More

Free Quick and Easy Money Saving Tips ? Part 2

Although many consumers would argue differently saving money doesn't have... Read More

Debt Elimination 2

The First Step To Debt EliminationRegardless of your personal and... Read More

Eliminating Credit Card Debt

The overwhelming task of eliminating your debts can often seem... Read More

Five Hot Tips To Get Out Of Debt Forever

The financial and psychological burden of being in debt causes... Read More

New Bankruptcy Law ? Targeting the Wrong People?

Last April, President Bush enthusiastically signed into law the oddly-named... Read More

What Does A Bankruptcy Trustee Do?

Once you file bankruptcy a court appointed bankruptcy trustee will... Read More

Student Loans Can?t Be Swept Away Through Bankruptcy

Bankruptcy is in the news these days, as Congress has... Read More

high bay lighting advantages of led lighting Pete's produce ..