I would like to share some simple steps for debt-free living. I believe if you are truly serious about getting out of debt, you will commit to doing what it takes to implement these steps.
1. Do NOT allow any more debt. Until all existing debt has been paid, DO NOT use any credit cards. Pay with cash, check or a debit card — whichever is more convenient for you.
2. Write out a budget, a REALISTIC budget. You can improve upon what you measure.
3. Retire the debt. You can either pay off the credit cards with the highest interest rates OR you can start with the smallest balance and cross each one off as they are paid, smallest to largest, so that you will feel a sense of accomplishment and success as you start.
Being in debt creates a feeling of pressure and “being in bondage” to the lender which is unacceptable to anyone who wants to live a happy, fulfilled life so don’t put it off – begin today.