SOLVE YOUR
DEBT PROBLEMS NOW
MAGIC
THINKING ??? NO - Although it would be wonderful if debt would
magically disappear, the only way to get rid of it is to
PAY IT OFF. Almost
everyone has some sort of debt.
GETTING
RID OF DEBT – NOT AS EASY AS GETTING INTO DEBT BUT THERE IS WAY
TO STOP THE PLUNGE.
HERE IS A
SIMPLE SOLUTION TO A DIFFICULT PROBLEM
THREE
THINGS TO DO: INVENTORY; PRIORITIZE AND ROLLOVER.
INVENTORY: List all your
credit cards, personal loans, student loans, car loans, etc. Next
to each line item, list the interest rate and minimum payment
required. After you have come up with all creditors, rewrite your
loans in a different order. This time, line them up starting with
the highest interest rate loan and ending with the lowest interest
rate.
PRIORITIZE - The next
step, each month pay only the minimum payment on every single loan
except for the loan at the top of the list.
The loan at
the top has the highest interest rate, and therefore, is costing
you the most unnecessary money.
Every time
you get any extra cash in the month you put it towards this loan
and this loan only. You will find that this loan will quickly
diminish until it has disappeared.
ROLLOVER - Rollover is
the next and final step to the debt elimination system. Once the
first loan on your list is paid off, simply rollover ALL the money
you used to pay for that loan and roll it over to the next item on
your list. This should be the loan with the 2nd highest interest
rate. Each time you pay off a loan you add more money into your
payment pot. This makes the next loan all that much quicker to
eliminate. It becomes a snowball rolling down the hill, picking up
more snow and more positive momentum.
If you are
in a situation where you need help solving your debt troubles,
this system does work. The best thing you can do for your
financial future is to take the bull by it’s horns and
proactively work on solving your debt
problems.
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