Living Debt Free

Hi Sandra,
Thanks so much for the advice! Sometimes we forget we have a higher authority to adhere to. I unfortunately realize this the hard way. My daily practice now is to ask myself before I purchase anything. Is it truly something I need or just something I want? Can I do with out this? Learning how to save even it is only 20 bucks a week. Learning how to make the best of what you have. Thanks again for reminding me to stay on track! Continued success always..........Lubertha

although this doesn't really apply to me in every way. although i am learning to save my money. i haven't had a milk shke in like forever. it might help out so many people that need it alot more than others and help them realise to stop and think if they want to go to that store closing sale or save it for real estate and make them a millionair. I know have in the short time I've been here.

That is an excellent post Sandra! Being a slave to debt is terrible! Bravo on your post!

I do like that great information you just posted. I am the same way when it comes to buy stuff and I do ask myself do I really need this or not? I normally dont buy anything and always like to have money in the bank for emergency. Thanks again !!

Warm regards,

Paul T. La Moy

Lubertha, sometimes it is when our backs are against the wall that we remember that we have a creator there to provide for our needs. Thanks for your response, and this is also to remind me that I am in control of my own destiny.

Stephen, continue being knowledgeable on credit and spending, and your state of living will only get better. Like Dean always says, having good credit is key in the investment business. Stephen thanks for the feedback. You are like one of my children. My sons get a heart attack, if their one and only credit card hit $200. I must say like you they are very responsible with their cards and always pay off their balances at the end of the month.

Shawn thanks for the compliment, I really do appreciate. I thought about this post long and hard before placing it here. I believe this is a lesson for all of us.

Paul, in the past we would get carried away by material things, now it is about necessity. Like the saying in life, something has to happen before something else happens. This recession teaches us to invest smarter. Thanks for your response, I do appreciate.

Sandra

Is when you are REALLY Living! The stress of debt can be insurmountable! There is so much wisdom in working towards a debt free life! What an amazing gift it is to have Dean and this program to help provide a way to accomplish this. You will sleep better, feel better, have more focus and will feel stronger and more empowered to live your life when you are debt free! Thank you for this post!

1. Quit buying on credit. Put your credit cards on ice (some people actually pop them in a bowl of water in the freezer), then stick to cash. If you can't afford to buy with what's in your wallet — or on a debit card — pass it by.

2. Post your debts. Make a list of the amounts you owe on each credit card and tape it to the refrigerator. Next to each debt, write the interest rate and the minimum monthly payment required (or the larger monthly payment you intend to make). List the debts in order of size, the smallest first. (If you're paying off a big medical bill or student loan, include that too.)
Then, every month, pay the fixed amounts you put on the list. As the bills shrink, your creditors will reduce the minimum payment. After all, they want to keep you paying for as long as possible. But don't succumb. The key to this get-out-of-debt strategy is keeping your payments level, so you'll be reducing more of the principal every month. When one credit card is clean, apply that payment to your other cards. After a few months, you'll be surprised at how rapidly those debts have declined.

3. Find cheaper consumer credit. If you're paying high interest rates on your credit cards — some creditors charge as much as 25 percent — it may make sense to transfer your debts from your present cards to one of the new low- or no-interest cards. But be sure to read the fine print. The teaser rate on many of these cards doesn't last long — usually six months. So shifting debt is best for people who know they can pay it off before the rate goes up.

If you do transfer, be vigilant about paying on time. Just one late payment will immediately push you to a higher rate. And don't forget to cancel your old card or you'll soon be racking up charges on it again.

Randy Bailiff
Dean Graziosi Investment and Life Coach