5 habits to get you out of debt
A voice of experience offers tips on gaining control of your finances and wiping out big bills -- a little bit at a time.
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Very simple solutions to this:
1. Realize that credit card charges are actually real money
2. Don't buy stuff you can't afford
3. Pay your bills and credit card charges as they occur
4. Homes and cars may require financing. NOTHING ELSE DOES. If you have to finance a TV or home appliance, you can't afford it. Buy used or keep what you already have.
5. The fact that "you are not alone" is no excuse. Nobody should have to pay YOUR bills but YOU.
6. Stop whining and pull your head out. Some people don't have enough good sense to have credit cards.
I did not pay cash for my house, however I did put 35% down and paid of the mortgage in approx. 5.5 years. If I would have just waited 5 years to purchase a house I could have paid cash, so it is very much a good goal to have.
If we ever move again I can assure you I will never have a mortgage again. ( or a car payment, or cc debt, or debt of any kind.)
The freedom of being debt free surpasses all!!
You should pay off the lowest amount of debt first! This last slide totally contradicts what he was saying before about setting small goals. If your largest debt has the highest interest rate, it could take years to pay it off! Where's the satisfaction in that? Pay off small debts first, then work up to the big ones. Dave Ramsey 101 people!
I keep very small balances on my credit card. usually just to keep it "active". I really dont like to carry a balance and I shouldnt have to, I dont have kids, I dont have a medical condition (by the grace of god), I dont really have an excuse to be in the red as I have a decent job.
I try to plan as best I can and make appropriate decisions. I have student loans, mortgage and now a car note. I plan to pay off my student loans upon the sale of my home or renting it out at exhorbitant amounts (LOL- I live by a very popular attraction). My car note will be paid off in a year and a half. ....I can honestly say, my mortgage will probably be the only longterm debt I carry unless I sell, and if I ever buy again I will have a mortgage that is extremely low or doesnt exist. I learned my lesson this time around!
Unrealistic article. Most Americans have more than one credit card balance, (debt) and find it difficult to pay $500/month. They have a mortgage, car or cars, kids, and other necessary expenses. Every time someone pays off A credit card bill..automatically they become experts & have to write an article about how they went without and really dug deep and sufferred to pay a $1,000 credit card bill. So Hoakey.
pay your bills!..you are young and need to establish this habit now. Cost of living will always be something we have to pay...and sometimes the fun stuff has to be put on the back burner. YET, if we are responsible now...it will pay off in the long run! ...awwwwww Solomon Islands... :) Always keep a fund back....like someone once told me..put a penny back each day...one penny..two penny..three penny on the third day...it's a good practice. GOOD LUCK ALL...together we can make it!!!!
Yes, this is a joke, get a grib on student loan debt--well, well, let us see now it takes an average of 6.5 month to find a job after a BS, and much more for PHD and Masters, and the 150 K debt should be paid, nice------from what my dear---???? Try to be real here instead of playing dreamland! Never mind the car, apartment, food, doctor, clothing--never mind all that entertainment you were promised---
Let us get a real story here, and talk about why too many people with an IQ of less than 110, can not get a job anyway, when they come to me for an interview, instead MOST people should be sent 4-6 years into an apprenteship type education, like caring, life food service, like assistant to the assistant---the actual jobs out there, and lots of them.
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