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with all these, pls Earn More than your need or settle within the available resource.
Spend only what you have.
I would say to first examine your debt - - how much is honest debt ?? how much is incurred by illegal immoral interest rates ALLOWED BY CONGRESS......
An interest rate of 24% is usuary - and illegal on the streets as loan sharking but allowed for banks and financial institutes. . .
Now that you've examinied you debt. . . . . Examine your credit rating. . . Think long and hard about what it does for you...how much can you lose ??
If your mortgage is over the top a 400,000.00 mortgages on a home worth ( re-appraised by not the same people that appraised it for the mortgage ) for 100,000.00.....me ??? sorry I've got to go down to the corner store for a pack of cigarettes ( see you in twenty years - unless they find me first)
in life people will do what they have to do - - beg - - borrow - - or steal.....our congress lies - lies more - and themn lies even more THEY ARE NOT HONEST - - YOU OWE THEM NOTHING
- WHEN THEY RETIRE ANY MONIES IN THEIR RE-ELECTION CAMPAIGN FUINDS GO INTO THEIR POCKETS.......
I can not say walk-away-Jose....it's a option - is it time to stop beating your head against the wall ??? I know it feels good when you stop.......maybe stop
. . . one other small point - debts are civil and unless you allow them to over-ride your constutional right there are NO DEBTOR PRISONS IN THE UNITED STATES.....( THAT IS DONE BY EXTRACTING AN AGREEMENT TO PAY WHICH MAY OR MAY NOT BE LEGALLY BINDING)
im 23 and ive been doing this since I was 18
I have zero credit card debt tho so no need to worry if people havnt been doing this then theyre just stupid come on people be smart
Cancel your cable/sat and spend more time with your family. If you need entertainment go to the library and check out a book. Some even have movies you can borrow.
Get rid of the cell phone altogether. I'm only 35 and I remember not using them, so I know they are not life essential! At the very least drop the family plan. There is no reason at all a teenager needs to have their own phone.
If you insist on having a cell phone drop the landline.
drop the internet. again if you have to check email or surf the web go to the library.
cut up those credit cards. ok, you can keep one becuase there are some things you might need one for, but you don't need 5.
if you keep the one credit card get rid of the debet cards. carry cash. that way you can visibly see the money disapear. IF you have gotten rid of all your credit cards you will probably need one debit card becuase again there is somethings you can't do with cash.
cut back on the soda,beer, and other coastly drinks. If you do happen to find money to eat out save a little on the wallet and gut and order water.
Of course I'm talking about extreme cuts and if you are in extreme debt and are serious about getting out they should be considered.
Been debt free since 2011 except mortgage. Followed Dave Ramsey's Total Money Makeover. Author did not give due diligence to her research. Like other posters on this pointed out Dave says $1000.00 as Baby Step 1 and then in Baby Step 3 build that to 3-6 months of living expenses.
Too bad we can't get our government to A) Set a budget and live on it, B) stop adding to debt. People need to realize that we do not have endless resources...the money they think the government is 'giving us' is really our money to begin with. Government levies taxes, individuals and those evil businesses pay taxes. Then the government spends like a kid in a candy store-then when the money runs out they set up a credit account at the store that they own since they bailed them out with 'stimulus funds' which also came at taxpayers expense.
Obviously the author of this article, Micheal Cheney, did not do his full research when quoting Dave Ramsey. He has misquoted Dave Ramsey. Dave Ramsey says the first thing you do is establish your baby emergency fund of $1,000.00 for foreseeable emergencies like your car breaking down, having to replace appliances, or unexpected medical bills so you do NOT add to your credit card debt. Once you have paid off your debt Dave Ramsey recommends doing a fully funded emergency fund with 3 to 6 months of living expenses.
If anybody is serious about getting out of debt I would highly recommend Dave Ramsey's Financial Peace University.
Here's a simple way to get rid of debt:
JUST PAY IT, AND STOP SPENDING!!!
Hmmm....maybe those Dems and Rep's that just kicked the can down the road could take a lesson...
A dis-satisfied customer and voter...
Read Dave Ramseys "Total money makeover" and share it with your whole family like my daughter did for our family. We are all working the plan (that really works and is easy to do) we are all getting out of debt.
Thinks you can do to save money and use it to pay off your Debt.
1. Cancel your cable Bill, and signup for Netflix or similar, monthly savings 50%+
a. Get rid off DVR or expansive rented equipment, some of the times you may not actually need it.
2. Cancel Home phone (landline), There is no need to have it since everyone has cellphone those days and if you dont just get a prepaid cell phone and have it in the house its will cost you alot less. Land Line phone companies tell you that you needed or a law requiers it but there is no law that sais you need to have a home Land Line.
3. Cell phone bills. Switching to Pre-Paid those days may save you money as they offer Unlimited everything and price usually starts at $45, all depending on what phone you want.
4. Costly Car repair. Talk to your local repair shop, See if you can get the parts your self, and have them replace it. Most of the time you can get parts online cheaper and better and save allot by having your mechanic just replacing the part instead of placing a markup on it as well.
5. Balance transfer to lower interest on the cards, This can save you Thousands over long run.
6. Shop for better internet provider, Major ISP will give you promotional offers if you switch to them, so if every year you switch let say between Verizon and Comcast, your bill would be shrink almost in half.
More options can be on my website, follow the links
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