Debt Free

This purpose of this site is to inform you about how you can become debt free. I know as well as anybody the burden that having debt can cause you. The credit card debt industry is out to make money off of you, and they are making lots of it. I have friends that tell me that they are making money off of there credit cards because they get a free $40 DVD player when they sign up for there credit card. I then look at the amount of interest they pay on there credit cards, and they are not making a cent. If you ask most people if they would like to be Debt Free, they will usually tell you that it isn't possible in this day and age. Well that isn't true, sure it does take work to get debt free, but it is worth it in the end.

One of the first things you need to do is get all of your debt together, and compare it to your income. If you don't have anything left over at the end of the month, than you might consider Debt Settlement as an option. If you have money left over, after considering all your monthly expenses including gas, food, and other normally overlooked monthly costs, then you can apply that left over money towards your debt. Calculate what debt is costing you the most per month in interest and try to get those debts paid off first. Some credit cards calculate interest daily, and that interest can add up quickly. You can use my credit card debt calculator to see how long it will take to pay off your credit cards.

Living debt free can be the best feeling in the world. I know it can be tempting to go out and get a few credit cards to cover emergencies and christmas, but you can also use the money you would pay in interest and put it into an emergency savings account. This takes time to save up the money, but once you get in the habit of saving your money, you will start to see that a debt free life is a positive one. Your kids will also learn from your behavior, and maybe pass up on that Discover card the day they get to college.

Instead of credit cards, you should get a debit card for things like renting a car. There are also pre-paid credit cards that you can buy if you are going on a vacation and want the convience of a card. I know that people want to buy now and worry if they can afford it until later, but you just need to get out of this type of mind set. Do me a favor, go and add up all the interest you paid in a year on credit cards and you will probably see that you could have put that money into an IRA and you would be planning for your retirement, instead of bankruptcy. Break the bad habits of living off of your credit cards and you will learn to love the debt free life.