Debt is a Four Letter Word
Debt is dirtiest four letter word and the most devastating of them all. It causes sleepless nights, restlessness and depression and affects what you can buy and how you might retire and to top all these sorrows you have to endure useless advice from friends and family that 'you should have done this' or 'you should have done that', but no solutions. If you have read my earlier blog, then you will know what sufferings I had to go through, but fortunately there is solution and I found it.
Getting into Debt is your Own Fault
I am not saying this to make you feel bad. When I got into debt it was my own fault, too and the fact is anyone can get into debt because credit is far too easy to obtain but very difficult to maintain and control.
Solution
In my earlier blog I discussed a solution to my problems, but so deep is my passion for this subject that I have found another, an even better solution, one that will not only help you consolidate your debt and eliminate what you owe, but will also help you to save and even help you transform your debt into income
I think you should take a look. As I mentioned before, even if you are not in deep crisis now, it might be worthwhile finding out how you can save. So the strategies really apply to every one.
Credit Card Debt Consolidation
Thursday, October 11, 2007
How to Manage Your Debt
When it Rains it Pours
Isn't it strange that when you are really short of cash you need it most? Suddenly everything seems to go wrong. What can go wrong will go wrong and suddenly without any warning your car breaks down; your computer goes up in smoke; your heating system shuts down and you are unable to do anything about it.
Everyone's at Risk
In these days of easy credit it is so easy to boost your lifestyle, but extremely difficult, or rather impossible, to reduce it back to where you started. As you buy more and more things; a new TV, a new car, an extension to your house, a brand new kitchen and brand new bath room, a brand new car, a holiday, a new sofa set etc, you slowly but surely fall into the trap of being in debt.
We all buy these things because we want a good life and there is nothing wrong with this and sometimes we do this to impress the neighbors and again it is in our nature to compete, but when things go out of hand, there is no-one turn to.
An Abundance of Useless Advice
When things go wrong, there is an abundant source of useless advice. It is easy for people to say ' You shouldn't have done this!' or 'You should have done that!' but once the harm is done, there is is no turning back.
My Bitter Experience
I have been in debt and I know how annoying this sort of advice is. I was a millionaire by the age of 26 and by the age of 29 I was so deeply in debt that the roof was falling on top of me. I was so hungry for the good life that I spent and spent and spent. I was credit card junky and had over 30 credit cards all of which had very high limits. At one time I was even proud of them, but they were soon blocked and, the next thing I knew, I was in debt.
The advice of friends and close ones was of little use and most annoying because I expected help not useless advice. I hope you can guess how annoying it is when your father advises that you should pay the electricity arrears else your electricity will be cut off or to pay the city corporation tax else the bailiffs will take your furniture and belongings and will padlock the front door to your own house. It is annoying hearing that you need to pay the mortgage else your house will be repossessed.
From Bad to Worse
I knew all these things. I knew that I needed to pay my mortgage and my loan repayments and even the electricity. I didn't want to hear what I already knew, but that was the only type of advice I was ever given.
It is not that friends and family did not feel for me or that they did not want to help me, but unfortunately hand-outs were of little use because it didn't get me out of my debt and I guess my friends and family felt I was a burden on them and that they were throwing away good money after bad
For me things went from bad to worse and the first thing that happened was I started to lose my credit cards one after another. Shortly after, my telephone was disconnected, first from my house and then from my business. I was unable to pay the bills and was very soon also unable run my business effectively. I was left with an advertising debt and soon ended up with court judgments against me.
Free from Debt
I am relieved to say that there is a happy ending to this story. I am happy to advise that I am totally debt free now. I have no loans and once again enjoy a good life and my children study at a very good school.
How I managed to Turn Around
What I needed is sound advice. I needed to know how to manage my debts. How to re-consolidate them so that I could end up with less to pay and less people to pay to.
Do you know what the funniest thing was in those days? I was ashamed to tell people the exact truth of my situation because I was afraid that they would rather believe that it was my greed to become rich quick that put me in that situation and that therefore I deserved it. I was so ashamed that I didn't even bother to work out exactly how much I owed and who I owed the money to. I was almost broke and almost broken inside.
Fortunately I took good advice. I learned how to reduce my costs. I learned how to budget and control my costs and very soon I reorganized my finances. Because I was able to do this, I was able to keep a portion of my income for myself and not my credit payments and over the years - I am now 44 now - I was able to clear everything.
The Moral - Never Too Early to Get Good Advice
Anyone can get into Debt. Credit is far too easy to obtain, but extremely difficult to control and maintain. Most people will seek to change their lifestyle when they are in deep trouble, but the truth is you cannot change your lifestyle once you are accustomed to it. So my advice is to learn how to reorganize your finances before it is too late. You might find that you are making savings that you were never able to do before and in this way, you might find that your lifestyle gets better because of good advice you take.
Where to Find Good Advice
Regardless of if you are in uncontrollable debt or not, my advice to you is to find out how to reorganize your expenses immediately. This is why I advocate the 'Money Crisis Manual'. It help you to solve your problems quickly and effortlessly. So get How to Manage Your Debt
Isn't it strange that when you are really short of cash you need it most? Suddenly everything seems to go wrong. What can go wrong will go wrong and suddenly without any warning your car breaks down; your computer goes up in smoke; your heating system shuts down and you are unable to do anything about it.
Everyone's at Risk
In these days of easy credit it is so easy to boost your lifestyle, but extremely difficult, or rather impossible, to reduce it back to where you started. As you buy more and more things; a new TV, a new car, an extension to your house, a brand new kitchen and brand new bath room, a brand new car, a holiday, a new sofa set etc, you slowly but surely fall into the trap of being in debt.
We all buy these things because we want a good life and there is nothing wrong with this and sometimes we do this to impress the neighbors and again it is in our nature to compete, but when things go out of hand, there is no-one turn to.
An Abundance of Useless Advice
When things go wrong, there is an abundant source of useless advice. It is easy for people to say ' You shouldn't have done this!' or 'You should have done that!' but once the harm is done, there is is no turning back.
My Bitter Experience
I have been in debt and I know how annoying this sort of advice is. I was a millionaire by the age of 26 and by the age of 29 I was so deeply in debt that the roof was falling on top of me. I was so hungry for the good life that I spent and spent and spent. I was credit card junky and had over 30 credit cards all of which had very high limits. At one time I was even proud of them, but they were soon blocked and, the next thing I knew, I was in debt.
The advice of friends and close ones was of little use and most annoying because I expected help not useless advice. I hope you can guess how annoying it is when your father advises that you should pay the electricity arrears else your electricity will be cut off or to pay the city corporation tax else the bailiffs will take your furniture and belongings and will padlock the front door to your own house. It is annoying hearing that you need to pay the mortgage else your house will be repossessed.
From Bad to Worse
I knew all these things. I knew that I needed to pay my mortgage and my loan repayments and even the electricity. I didn't want to hear what I already knew, but that was the only type of advice I was ever given.
It is not that friends and family did not feel for me or that they did not want to help me, but unfortunately hand-outs were of little use because it didn't get me out of my debt and I guess my friends and family felt I was a burden on them and that they were throwing away good money after bad
For me things went from bad to worse and the first thing that happened was I started to lose my credit cards one after another. Shortly after, my telephone was disconnected, first from my house and then from my business. I was unable to pay the bills and was very soon also unable run my business effectively. I was left with an advertising debt and soon ended up with court judgments against me.
Free from Debt
I am relieved to say that there is a happy ending to this story. I am happy to advise that I am totally debt free now. I have no loans and once again enjoy a good life and my children study at a very good school.
How I managed to Turn Around
What I needed is sound advice. I needed to know how to manage my debts. How to re-consolidate them so that I could end up with less to pay and less people to pay to.
Do you know what the funniest thing was in those days? I was ashamed to tell people the exact truth of my situation because I was afraid that they would rather believe that it was my greed to become rich quick that put me in that situation and that therefore I deserved it. I was so ashamed that I didn't even bother to work out exactly how much I owed and who I owed the money to. I was almost broke and almost broken inside.
Fortunately I took good advice. I learned how to reduce my costs. I learned how to budget and control my costs and very soon I reorganized my finances. Because I was able to do this, I was able to keep a portion of my income for myself and not my credit payments and over the years - I am now 44 now - I was able to clear everything.
The Moral - Never Too Early to Get Good Advice
Anyone can get into Debt. Credit is far too easy to obtain, but extremely difficult to control and maintain. Most people will seek to change their lifestyle when they are in deep trouble, but the truth is you cannot change your lifestyle once you are accustomed to it. So my advice is to learn how to reorganize your finances before it is too late. You might find that you are making savings that you were never able to do before and in this way, you might find that your lifestyle gets better because of good advice you take.
Where to Find Good Advice
Regardless of if you are in uncontrollable debt or not, my advice to you is to find out how to reorganize your expenses immediately. This is why I advocate the 'Money Crisis Manual'. It help you to solve your problems quickly and effortlessly. So get How to Manage Your Debt
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