Introduction
There is no way to get out of debt fast. Find out the truth about claims companies make to get you out of debt fast. Learn facts about your own debt and tools to help you spend wisely.
Learn the New Rules for Credit Cards
The “Federal Reserve's” new credit card rules effective February 22, 2010: What the credit card company has to do now: they have to give you a 45 day notice before they can increase interest rates, terms of service for your credit card and charge any fee to your credit card account.
What the credit card company does not have to do: they do not have to send a notice if variable interest rate tied to an index; if the index goes up, the company does not have to provide notice before your rate goes up; introductory rate expires.
I recommend printing this information: Board of Governors of the Federal Reserve
I recommend this site: MYMONEY.GOV there is some finical tools that can help you get control over your money. You just have to go on this site their is so many tools and resources. The information on mymoney.gov is based on facts not some company claiming to help you get out of debt. You can learn about anything you want about molding your future. You have everything you need right here on mymoney.gov.
Money Matters
Money matter has some really good spending money advice and super ideas for saving money. Saving money takes work so get prepared if you’re really serious about getting out of debt. You will not only have to take control of your spending problems but enforce others in the house hold to help in the effort.
Use the tools there free and best of all easy to use. Find out what you really owe? Make a budget and find out how long it will take you to get out of debt. Click on other source links to get further information that will lead you out of debt. Enter the contest win a $250 gift card.
How to Be Debt Free Without Consolidation
You got into debt the moment you sent out the credit card application. You were dreaming of what your going to buy before you even received your credit card in the mail. "Credit cards are easy to get." Get into trouble with that is! All of us are being forced to have credit cards because everything you do requires a credit card. Some jobs require you to have good credit or they will not hire you. Some employers figure if your credit is good that means you are a responsible person.
The first thing you did wrong was when the credit card came in the mail, you justified to yourself and others that you had to make sure that the credit card is activated.
Small credit card purchases: How they really add up? Not only that! When you make these "small credit card purchases" you only remember some of them until you get the credit card statement then you realize that you spent more then the $700 TV purchased over a year ago.
The truth is you do not realize just how much you are spending until you get the balance. This is when you realize you are getting into debt. Then it is to late your in debt.
Now you have to take step to repay your debt. First, you need to assess your problems. Figure out how much money you owe. I provide the tools you will need to find out what you really owe.
Then if you can return any of the purchases and get credit added back on your credit card I suggest you do. It would really be in your best interest. Leave your credit cards at home never carry them with you anywhere unless you have a "planned purchase". That means you really gave it some thought!
If you can’t make extra money or work some overtime. Consider your other bills think about ways you can save money on your utilities and groceries. If you will put some effort into it you can save at lease a $100 or more on your utilities. Grocery shopping you can save at least $20 a week by using coupons and staying away from expensive meat and making meals that you can make 2 meals from. So far, that is $180 toward your credit card.
Then you could organize a yard sale on the weekend to pick up some cash. Maybe you have some stuff you could list on Craiglist or ebay to make some extra money.
Make minimal payments on every credit card but one, which you choose to pay off first. If one credit card has higher interest then the rest, pay that credit card off first (This is called "Laddering", and may be more cost effective).
If interest rates are similar for your credit cards, pay off the one with the lowest balance first ("Reverse Laddering"). This will allow you to see your progress faster, this will make you feel good after each credit card is paid off.
After each credit card is paid off, put the payment amount that you used to get those credit cards paid off into the next highest interest (or lowest balance) credit card, and so on.
Most people try to live beyond their means too temporarily improve their quality of life. This only makes things infinitely more difficult in the future, and impossible to overcome in older age.
Only keep 2 major credit cards at home for emergencies only. Every paycheck put aside 20% of your income in some kind of account that you have to wait several days to be able to receive your money. Doing this will stop compulsive spending.
Also put aside a little money for non-necessities; it is important to be able to buy things you want without going into debt.
Credit Card Debt Calculator
This calculator is a very helpful tool for consumers who are in debt. Use this calculator to find out what you really owe. Then start managing your debt.
There is no way to get out of debt fast. Find out the truth about claims companies make to get you out of debt fast. Learn facts about your own debt and tools to help you spend wisely.
Learn the New Rules for Credit Cards
The “Federal Reserve's” new credit card rules effective February 22, 2010: What the credit card company has to do now: they have to give you a 45 day notice before they can increase interest rates, terms of service for your credit card and charge any fee to your credit card account.
What the credit card company does not have to do: they do not have to send a notice if variable interest rate tied to an index; if the index goes up, the company does not have to provide notice before your rate goes up; introductory rate expires.
I recommend printing this information: Board of Governors of the Federal Reserve
I recommend this site: MYMONEY.GOV there is some finical tools that can help you get control over your money. You just have to go on this site their is so many tools and resources. The information on mymoney.gov is based on facts not some company claiming to help you get out of debt. You can learn about anything you want about molding your future. You have everything you need right here on mymoney.gov.
Money Matters
Money matter has some really good spending money advice and super ideas for saving money. Saving money takes work so get prepared if you’re really serious about getting out of debt. You will not only have to take control of your spending problems but enforce others in the house hold to help in the effort.
Use the tools there free and best of all easy to use. Find out what you really owe? Make a budget and find out how long it will take you to get out of debt. Click on other source links to get further information that will lead you out of debt. Enter the contest win a $250 gift card.
How to Be Debt Free Without Consolidation
You got into debt the moment you sent out the credit card application. You were dreaming of what your going to buy before you even received your credit card in the mail. "Credit cards are easy to get." Get into trouble with that is! All of us are being forced to have credit cards because everything you do requires a credit card. Some jobs require you to have good credit or they will not hire you. Some employers figure if your credit is good that means you are a responsible person.
The first thing you did wrong was when the credit card came in the mail, you justified to yourself and others that you had to make sure that the credit card is activated.
Small credit card purchases: How they really add up? Not only that! When you make these "small credit card purchases" you only remember some of them until you get the credit card statement then you realize that you spent more then the $700 TV purchased over a year ago.
The truth is you do not realize just how much you are spending until you get the balance. This is when you realize you are getting into debt. Then it is to late your in debt.
Now you have to take step to repay your debt. First, you need to assess your problems. Figure out how much money you owe. I provide the tools you will need to find out what you really owe.
Then if you can return any of the purchases and get credit added back on your credit card I suggest you do. It would really be in your best interest. Leave your credit cards at home never carry them with you anywhere unless you have a "planned purchase". That means you really gave it some thought!
If you can’t make extra money or work some overtime. Consider your other bills think about ways you can save money on your utilities and groceries. If you will put some effort into it you can save at lease a $100 or more on your utilities. Grocery shopping you can save at least $20 a week by using coupons and staying away from expensive meat and making meals that you can make 2 meals from. So far, that is $180 toward your credit card.
Then you could organize a yard sale on the weekend to pick up some cash. Maybe you have some stuff you could list on Craiglist or ebay to make some extra money.
Make minimal payments on every credit card but one, which you choose to pay off first. If one credit card has higher interest then the rest, pay that credit card off first (This is called "Laddering", and may be more cost effective).
If interest rates are similar for your credit cards, pay off the one with the lowest balance first ("Reverse Laddering"). This will allow you to see your progress faster, this will make you feel good after each credit card is paid off.
After each credit card is paid off, put the payment amount that you used to get those credit cards paid off into the next highest interest (or lowest balance) credit card, and so on.
Most people try to live beyond their means too temporarily improve their quality of life. This only makes things infinitely more difficult in the future, and impossible to overcome in older age.
Only keep 2 major credit cards at home for emergencies only. Every paycheck put aside 20% of your income in some kind of account that you have to wait several days to be able to receive your money. Doing this will stop compulsive spending.
Also put aside a little money for non-necessities; it is important to be able to buy things you want without going into debt.
Credit Card Debt Calculator
This calculator is a very helpful tool for consumers who are in debt. Use this calculator to find out what you really owe. Then start managing your debt.
