by William Bond

Created on: May 12, 2009   Last Updated: May 17, 2009

Yes, you can become debt free within a few years when you follow my easy to understand tips to become debt-free. Free at last, free from those monthly payments, and getting angry telephone calls from card companies trying to get that late payment from you. You will free up hundreds of dollars, perhaps thousands of dollars a month to spend other places. Where? On your savings plan to buy a new house, or to jump start your retirement investment plan, or to contribute more into you 40l(K) plan, to build a savings plan to set up a emergency fund. Let's look at some tips to help you succeed.

1). Do a complete inventory of your debt load right now. Make a list of all your debts, get a total for each card, and the grand total owed today. The average American credit user owes over $l0,000 in credit cards. Now, let's say you owe $4,800 on 2 credit cards, and you want to pay them off completely in 4 years(48 month) from today. This means that each month for the next 4 years, you send $l00, it will be $50 for each card, and without using these cards to purchase more things, you can get it paid off in 48 months. How? Here is the math: (48X$l00=$4,800).

2). How do you stop using the cards? By using more cash at the gas pump, at the restaurant, at the store, and other places you shop and play. Some people get a debit card, this is a card you use like cash, this is the money you have in your checking account, can be used at grocery stores, general stores, malls, everywhere they take these debit cards. You don't get any bills the next month for products and services like when you use your credit cards. If you need to use one of your credit cards, for a once only purchase, such as a car repair, or an emergency, use it, but pay it off, next month along with the regular payment. Keep steady payments going each month. Try not to fall behind each monthly payment.

3). Pay all credit payments on time, with the correct amount, never go over the credit limit, by getting out of debt, will help you keep a good credit score. When you are paying on time, and you show your creditors you mean business, you will be treated with a better credit score, and that means that your interest rates on all loans including credit cards, mortgages, and car loans will be lower, and you will save a great deal on interest charges over the months and years. You are now on your way to shedding your debt load.

4). Check all statements for any loans on credit, as soon as the statement arrives. Do you agree with all the charges? If not, call the credit card company, or the bank which sent you the statement, and demand that they answer for the charges. If there is a mistake, make certain that it will be removed, and a new bill is sent ASAP. You are the manager of your credit and your debt load, keep your debt loan as low as possible, by using more cash, and buying only what is needed, not just what you want, this is the key, you have all the tips you need to succeed. Go for it. You can do it. Just try.

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