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Want To Loose Your Debt?
by Nocita Carter
Iím sure your answer is yes to this question. Yeah, you may want to loose your debt, but arenít sure exactly how to do this. Did you know that there are a lot of people in the United States who are in more debt today than weíve ever been? Weí

Iím sure your answer is yes to this question. Yeah, you may want to loose your debt, but arenít sure exactly how to do this. Did you know that there are a lot of people in the United States who are in more debt today than weíve ever been? Weíre also saving much less! Thatís right. Even though we make more money weíre saving a lot less than our grandparents did! I know youíre saying, things cost much more these days. Yes, I know, but weíre still spending more, which keeps us from saving the money we should for a rainy day.

In fact, the interest rates that are currently being charged on credit cards average eighteen percent and upward. Ouch! Thatís a lot of interest to pay for a credit card especially if you donít pay off your balance each month. Of course, your credit card company would like you to keep a balance on your credit card so they can collect interest from you! Remember youíre charged interest on your unpaid balance, thatís how the credit card companies make lots of money. You say to yourself, what can I do to reduce or eliminate my debt? Well, here are some tips to help you begin your path to financial freedom by reducing and eventually eliminating your debt:

1) Review all of your current billing statements to determine how much you owe your creditors. By doing this, youíll know exactly where you stand with your bills and exactly how much you owe.

2) Look at the highest interest rates you are paying and the balances of these particular credit cards. Based on those balances, attempt to start paying off the credit cards with the highest interest rates first. This will assist you in reducing the amount of interest you are paying to your creditors sooner.

3) Pay more than the minimum amount due on your credit cards! You want to get your debt reduced and eventually eliminated by paying over the minimum balance that the credit card company is requiring you to pay. Remember debt elimination is your goal, so this will help you to work towards that!

4) Make sure to pay your bill on time in order to avoid late fees and extra interest charges added to your credit balances. You definitely donít want to pay your credit card company any more money than you need to! Remember, the more money you keep for yourself, the more you have to save.

5) Donít use your credit cards! Thatís right, youíre trying to become debt free, so youíll need to eliminate or reduce your spending on your credit cards. Yes, I know youíll need one for emergencies. But, thatís just it, emergencies only! So donít use your credit card for anything else other that a true legitimate emergency. Your goal is to stay out of debt and to become debt free.

6) You may want to take money from your savings or money market account to pay off your credit cards so you can become debt free or reduce your debt. If you decide to do this, make sure you keep some money in your savings for an emergency or a rainy day!

7) If you think you need debt counseling, then you may want to seek professional help to assist you with reducing or eliminating your debt. Just do some research via the internet to locate a company that specializes in this.

These tips should help you get started on your way to becoming debt free for the future. Youíll be glad that you decided to take this crucial step in taking control of your personal finances by losing your debt! Remember, itís important for your future.

Nocita Carter is a writer and web designer that creates websites providing informative tips on various subject matter including personal finance tips on your personal finances at ; dating tips at and your choice of ebooks at

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The site is not responsible for any content in it. E-mail: alldir[at]gmx[dot]com
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