| This is a simple five step plan that anyone | | | | out each month for each debt. Taking each |
| can implement today to begin banishing bad | | | | debt at a time - and include your mortgage in |
| debt from their lives forever and that will | | | | this - look at the amount of interest you are |
| allow them to begin taking back control of | | | | paying on every single debt you have and also |
| their own personal happiness. | | | | read contract small print to find out about |
| | | | any penalties you may incur if you pay back |
| The financial and psychological burden of | | | | loans early. |
| being in debt causes us and our families | | | | |
| continuous emotional stress. That stress | | | | Find out whether you can re-mortgage (for the |
| eats away at the quality of our lives and | | | | same amount NOT to release equity) and take |
| leaves us feeling powerless, angry, depressed | | | | advantage of a lower interest rate and also |
| and helpless. | | | | the ability to pay off lump sums of your |
| | | | mortgage each year. Look at transferring |
| But there is a way out - in fact, there are | | | | credit cards to those offering lower interest |
| five simple and straightforward ways out of | | | | rates and even 0% interest on balance |
| debt - and if you apply this five point plan | | | | transfers for a fixed period. DO NOT |
| to your life today you will have taken the | | | | increase your credit limit, DO NOT use this |
| first step on your personal road to debt free | | | | as an excuse to add another credit card to |
| living for life. | | | | your list! If you do find a company willing |
| | | | to take on your balance transfers cancel all |
| 1) Acquire No New Debt. | | | | other credit cards immediately you have paid |
| | | | them back. Now find out whether there are |
| You have to make the commitment to yourself | | | | any LEGITIMATE loan companies offering lower |
| and your family that together you will take | | | | interest rates than the companies you are |
| on no new forms of debt TODAY. Agree from | | | | already with and consider consolidating these |
| this point forward that you will not take out | | | | other loans under one with a lower interest |
| a loan for a new car, you will not | | | | rate. Again, DO NOT use this as an excuse to |
| re-mortgage and cash in your equity to afford | | | | take out yet another loan! |
| home improvements, you will refrain from | | | | |
| filling in new credit or store card | | | | Once you have looked into any of the above |
| application forms and you will destroy all | | | | ways for reducing your interest burden on |
| those credit and store cards you already | | | | your debt, if you are left with a number of |
| have. | | | | credit cards or other debts that cannot be |
| | | | moved and thereby reduced, consider writing |
| Break the pattern of living beyond your means | | | | to your credit card company or loan company |
| TODAY. | | | | and asking about renegotiating the terms. If |
| | | | you don't ask you don't get! There is no |
| 2) Begin To Track Your Money. | | | | guarantee that they will agree to lowering |
| | | | interest rates for you for a fixed period or |
| Starting right now go and get the paper work | | | | agree to accepting a lower monthly amount if |
| for all of your regular bills, any loans, | | | | that is all you have worked out you can |
| debts, credit card statements etc. and also | | | | afford, but if you explain the situation |
| the details of any income you receive each | | | | you're in and the action you're taking they |
| month from your job, any benefits you get or | | | | may be willing to help. |
| savings income - and put all of the paperwork | | | | |
| on the table in front of you. | | | | 4) Create Your Debt Payment System. |
| | | | |
| Step by step go through each one. List on a | | | | Now you will have a complete picture of what |
| piece of paper what you have coming in each | | | | has to be paid and to whom each month and |
| month and then list what you have going out | | | | exactly how much money you have to pay them. |
| each month - for this one do it in two | | | | List each debt with the highest interest |
| separate columns...column one should be your | | | | incurring one at the top all the way down to |
| essential bills for every day living | | | | the lowest interest incurring one at the |
| including your mortgage, electric, water, gas | | | | bottom. List the minimum amount you have to |
| etc., and column two should be the amount of | | | | pay each month for each debt and ensure you |
| debt you have. Write down all of the money | | | | pay it on time every month....without fail. |
| owed on each credit card, any loan amounts | | | | |
| you have outstanding and also detail the | | | | Any spare money you have left at the end of |
| minimum and required monthly amounts for each | | | | the month use it to pay off an extra slice of |
| one. | | | | debt number one. When that is paid off move |
| | | | on to debt number two and so on and so forth |
| Now you know exactly how much you have to | | | | until, in time you will have paid off every |
| live on, how much you have to pay out each | | | | single debt you ever had!!! |
| month to live and exactly how much you have | | | | |
| to find each month to pay debts. | | | | 5) Continue The Pattern For Life |
| | | | |
| Every month go through the same process - | | | | Once you have paid off every single debt you |
| once you have this whole five point plan in | | | | ever had and you have resisted the urge to |
| place you will notice that the amounts you | | | | take on any new debts take the extra amount |
| owe will reduce each month and you will find | | | | you have left over each month after paying |
| it easier to afford your month to month | | | | off your living costs and put it away...put |
| essential living expenses. If you don't keep | | | | it in an interest bearing account and for the |
| a track of what you spend it has been proven | | | | first time grow your money. Get a financial |
| that you will spend up to 10% more than you | | | | safety net behind you that will protect you |
| can actually afford each month so your debt | | | | for life from ever having to get into debt |
| will grow and grow and grow exponentially | | | | again as the result of a rainy day, an |
| forever unless you break the pattern TODAY. | | | | essential new car or a much deserved holiday. |
| | | | And get into the pattern of enjoying every |
| 3) Negotiate Better Interest Rates And Better | | | | single debt free day...forever. |
| Payment Terms | | | | |
| | | | Start on the road to debt free living today - |
| Step 2 should've highlighted the amount you | | | | take control back! |
| have in debt and the amount you have to pay | | | | |