If your friendly author knows about the need to eliminate credit debt, it's because he learned the hard way; so there's no need for you to make the same mistakes.
Those of us, who've been in the hole, know how it hurts.
And debt collectors, creditors seem to be a species of rare animal who enjoy inflicting pain ..
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OK, maybe not all.
How do we let it get out of control? It's so easy - we don't see the money running through our fingers - the pain comes later, sometimes much later.
So, you miss a month here and there, make a bunch of minimum payments, then a late payment or two.
Not too much to worry about.
One day, you wake up and realize you owe a lot.
The last generation has seen an explosion of credit card offers in the mailbox.
How many offers did you get, when your credit was good? A bundle, right? Isn't it just a little tempting to accept the card? After all, it's free, the introductory rate is zero for a looong time, and it's Pre-Approved!! Wow! So tempting..
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When I was a kid, and that was a long time ago - credit cards didn't exist for common folks.
Even mortgages have become far more common than a generation ago - and then 80% was the absolute max a bank would lend.
Just look where we are today in 2008! Amazing...
OK - what can we do? Set up a monthly budget.
List all the expenses you have and separate them into two bundles - the essential "must and need" items - from the "would be nice" items.
Be hard and look coldly to make the difference between must, need, and nice.
Is air a must? Is water a must? Is a hairdo a must? Is the TV a must? Wow, wow - oh man this is serious stuff here, but do you get it? Be hard - it will pay off in the end - with freedom from debt.
If your household income is more than enough, then include the TV and eating out - but take those funds from the surplus.
Cover and pay for the essentials first and be doubly sure there is money and month left over to pay your credit card debt.
What if your month is too long and you don't have enough left over to pay off the card - just pay a bit less? No! You have spent too much, and you'll have to cut some "nice" items...
sorry! Some folks try consolidating a bunch of debts under one credit card, balance transfers at zero per cent interest.
Can you imagine why they offer zero per cent? Because they know the vast majority will not pay off before the intro term is over and bingo, they've got you again!! Transfers are not a solution.
You still have to pay off the balance one day! Hey, have you thought of using a debit card / ATM card linked to your checking account? Great way to avoid over-spending.
The only way eliminate the pain and keep your hard-earned dollars in your bank account is to eliminate credit debt.
So, if this article got to you too late and you're already in trouble, then let me recommend a service I used while learning the hard way, check it out - there is a link down below.
Be wise, don't consult your friend who's worse off than you!! - and do check out your local Better Business Bureau to be sure you're in good hands.
If you found this article useful, pass it onto your friends.
Easier to avoid - than cure ...
*All information contained herein is for informational purposes only and is not to be construed as legal, financial or tax advice.