Hi, just wondering if anyone has any tips on getting out of debt, i obviously dont use the credit cards anymore i know that is step one, any tips on how to pay them off fast?
2007-01-18 11:20:31 · 6 answers · asked by Katy 4 in Business & Finance ➔ Personal Finance
Check out Dave Ramsey on www.daveramsey.com. He has a very clear plan for how to get out of debt and never have to borrow money again.
He takes you through 7 Baby Steps where you focus on one thing at a time. He has written a book called The Total Money Makeover. My husband and I have started on this plan, and are already having success in paying off our debt.
Good luck!!
2007-01-18 11:25:39 · answer #1 · answered by Jen G 5 · 0⤊ 0⤋
Call the credit card companies and see if you can negotiate a better interest rate. Sometimes they'll drop it. It helps if you can quote a rate you got through the mail, saying, "I have a solicitation here that says they'll give me 13.99%. If you can match that, I'll stay with you." Figure out exactly how much debt you have and on which cards. Pay off the highest rate card first. Put yourself on a strict spending "diet" so that you cut expenses wherever you can. Figure out where you spend money now. For example, if you spend just $3 a weekday on coffee, you are spending $750 a year on it! If you make $25,000 a year, that $3 a day coffee is 3% of your income. You should also consider taking a second job on weekends or at night to bring in more income, and you can sell stuff you have on ebay to bring your debt down quickly.
2007-01-18 15:44:18 · answer #2 · answered by Katherine W 7 · 0⤊ 0⤋
Hi! It's definitely possible to make some solid money through the internet. There are many resources out there but I think this blog has the greatest collection of ways to make money online.
http://www.doshdosh.com
Came across it some time ago and I'm still reading it daily.
Hope this helps! :)
2007-01-19 09:01:19 · answer #3 · answered by jeanmarie 1 · 0⤊ 0⤋
The book Start Late and Finish Rich suggests you brownbag everything you usually buy, like lattes, lunch, and so on. Use the 'found' money towards debt.
Don't get sick young...it will kill your finances!!
2007-01-18 11:40:54 · answer #4 · answered by Anonymous · 0⤊ 0⤋
SELL everything that isn't glued down to get them paid off... Especially sell the crap that you bought with the cards.
2007-01-18 11:26:45 · answer #5 · answered by Kitty 6 · 0⤊ 0⤋
TO ME IT SEEMS LIKE ONCE U GET BEHIND IT TAKES FOREVER TO CATCH UP I PERSONALLY DON'T BELEIVE IN CREDIT CARDS AND I FEEL FOR U MY HUSBAND THINKS IT'S OK TO GET A CREDIT CARD SPEND UP TO THE LIMIT AND NEVER SENDING THEM MONEY HE WILL NEVER LEARN MOST MEN DON'T
2007-01-18 11:58:01 · answer #6 · answered by shabo 4 · 0⤊ 0⤋