Are you Lookin for Free Debt ?

Have you ever considered how hard it is to become Debt Free? The perception is that debt is like weight, easy to put on hard to get off! Becoming debt free is not as hard as it may first seem, as long as you are earning of course. Drawing up a plan and staying focused is the start of becoming debt free. For instance you could follow a few simple rules, just remember the word DEBT:

1) Don’t using your credit cards routinely, this does not mean cutting them up, it just means only use if absolutely necessary. Try leaving them at home for a change.

2) Every week try and only use a set amount of cash, this will help you focus your spending and not overspend.

3) By using a debit card instead of a credit card you will save on some unwanted charges and as it is real cash you are using, it will help you stay focused on what you can spend.

4) Try and keep some unused credit available. If you have a history with a company and it is a good history, then you will protect a hard earned credit rating by owing a little rather than a lot.

When looking for other ways to become debt free you will need to consider other factors that make up that debt. So for this, remember the word FREE:

1) Find loans or cards with low interest rates. Do not just study the headline rate; look at it as a whole. How much will you repay over the whole period of the loan? Sometimes taking a higher initial rate can be cheaper in the long term when striving to become debt free.

2) Recycle all those leaflets, flyers and unwanted junk mail. You will be helping yourself and the environment at the same time.

3) Evaluate your own level of debt and stay in control. Do not listen to someone telling you that taking on more debt will be beneficial to you in the long run; you are the one who has to live with the consequences, not them!

4) Evaluate your debt free plan regularly, keep it up to date and make changes when needed. It will evolve as you do and soon you will see benefits.

Don’t get put off if it takes a little time to start seeing any benefit from your debt free plan, it is like a steep hill, climbing to the top is hard, but when over the top it becomes far easier. I hope this little guide is a help in your quest to become Debt Free.