Save Your Life From Debt Ruin
If you are being contacted by creditors regarding late and/or missed payments then it is best to get in touch with them to inform them of your situation. This will let them know that you are taking control, and they may draw up more manageable monthly repayments for you.
Imagine if you were only allowed to buy a home that cost no more than 2x or 3x your yearly salary? What would that do to our finances? I believe it would free you up to actually take care of things that come up unexpectedly every day. Little things like: roof repairs, replacing windows, broken showers, gutters, tree removal, babies, medical bills, braces, clothes and how about college funds for our children or what about some money set aside for retirement. Quit spending your money keeping up with the Smiths and get yourself on track paying off the debt that you have. You will be surprised how fast you can get yourself out of the hole you are in and really start living.
For some of you making more money is the answer. But usually a high dollar income quickly leads to a high dollar lifestyle. You think, I’ve got a good job, my spouse has a good job, and we can afford it. Right? Then just as quickly as you got out you are back in debt again. It happens slowly at first, a better car, new furniture and then soon you are maxed out again.
A recent study concluded, “Financial incompatibility is relatively common, with money causing over two million of us to end our last relationship. So while you don’t want a new partner to think that you are attracted to them solely because of their bank balance - and it is hardly the most romantic Valentine’s Day subject - it is worth talking about your attitudes to cash early on in the relationship as it can avoid problems later on.”
It is important to maintain a good standing with your creditors because this will save you thousands in the long run by maintaining a better credit score, keeping your interest rate down, and eliminating late fees. Don’t delay on taking action, address the issues as soon as they arise.
If this sounds like you, I urge you to try the same strategy I used — and succeeded with. After all my effort, I really do feel that The Only Way Out of Debt truly was my savior.
Add comment March 5th, 2008
