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Debt Free

STEP 1 : STOP CREATING MORE DEBT!

You cannot even begin to think of becoming debt free unless you stop creating more debt. The first step to get out of your debt trouble is to stop adding  any further debt. Don’t be tempted to use your credit cards or enter into more loan agreements just to try and pay current debts. That is debt suicide.

STEP 2: MAKE A LIST OF WHAT YOU OWE CREDITORS 

Gather all your latest statements and begin to make a list of all your debt obligations. Begin with the largest balance first. List the minimum monthly installments required, interest rate applicable; as well as the outstanding balance. You might get the shock of your life when you see how many credit agreements you really have, and the total debt amount they all add up to.

STEP 3: REDUCE YOUR EXPENSES

Look at your budget responsibly and see which expenses can be reduced.  For example:

- Reduce your DSTV package to a lesser one.

- Consider reducing your cell phone contract to a more affordable package.  You most probably will be paying a penalty fee because of the reduced package you want to downscale too, but at the end you will save some money.

If you are using your cellphone a lot during office hours, it might be a better option for you to upgrade your cellphone. For example. You spent about 200 minutes on the phone every month on a 120 weekender package. The additional 80 minute calls made plus the calls during peak hours,  can send your cellphone bill sky-rocketing. Upgrading to a talk 240,  where you get 240 anytime minutes free, might be the best solution for you.

- Shop around for cheaper household and car insurance quotes with the same coverage you currently have.

STEP 4: PRIORITIZE YOUR REPAYMENTS

Add the additional money created in step 3 to the debt with the smallest balance. Once the smallest debt is paid off, use the money freed up in step 3 to pay off the next debt on your list until this one is also paid off.

This way you will not spend the money available after a debt has been paid off, but use it to pay off other debt. You will be amazed how much interest you will save.

STEP 5: GET HELP                     

If any Creditors are in the process of taking legal action against you, or you are experiencing trouble in meeting all your monthly debt requirements, don’t stress.

For a free debt assessment contact 0861DEBTAID.  A NCR Registered debt counselor from Debt Aid debt Counseling can help you reduce your monthly debt repayments to one affordable amount, without creating more debt.

www.debtaidcounseling.co.za

Debt Free

We are now heading towards the end of April  and most people really do not feel that spring has arrived and is truly in the air. You can almost taste and feel summer fast approaching with many things to offer us. It’s time to get out of debt and start living a debt free life. We are all looking forward to our summer vacation as sunlight lifts our spirits. During the summer months we really enjoy the hours we spend in the open;  in the garden, and in anticipation of the upcoming nice weather.  We want to make our gardens as beautiful as possible. People enjoy looking at glossy brochures, take vacations and feel  so alive that that they almost feel the sun, the  foreign taste of wonderful food , and excellent wines. We want to really make the most of every minute of this year, possibly more than ever. In the last three years, most people have faced hardships and as a result they have been very depressed.  Now things are returning to the way it once was, and even our overtime at work has been restored. However, even though your  income has returned to normal, your garden has shown improvement, you’ve enjoyed holidays, all of these things cost money and create debt.  So, why not look at  debt consolidation, as a way to pay off your bills and allow you to enjoy your life and your dreams.

Debt Free

STEP 1: CEASE ALL CREDIT PURCHASES!!!

The first step in getting out of debt is to stop going any further into debt.  Refrain from using your credit cards and do not enter into any more credit agreements.  If you don’t stop creating debt you will never be debt free.

STEP 2: MAKE A LIST OF WHAT YOU OWE CREDITORS 

Gather all your latest statements and begin to make a list of all your debt obligations.  Begin with the largest balance first. List the minimum monthly installments required, the applicable interest rate and the outstanding balances. You might get the shock of your life when you see how many credit agreements you really have and the total debt amount.

STEP 3: REDUCE YOUR EXPENSES

Look at your budget responsibly and see which expenses can be reduced.  For example:

- Reduce your DSTV package to one that is less expensive.  

- Consider reducing your cell phone contract to a more affordable package.  There may be a penalty fee involved, but long term the reduced monthly fees will save you money.

If you are using a lot of minutes in excess of your plan allotment you may want to consider a different calling plan. The cost for the extra minutes can be very expensive. If you are consistently going over on your minutes you should upgrade to a plan that gives you the number of minutes that you need. The upgraded plan may have a higher monthly fee, but it will be less expensive than paying a lower plan rate with the overage costs for the extra minutes.

- Consider shopping for a less expensive homeowners / renter’s policy and car insurance.

STEP 4: PRIORITIZE YOUR REPAYMENTS

One method for reducing your debt is the manner in which you pay down your debt. For example, take the item or card with the lowest balance. This is the debt you will pay off first. You make a minimum payment on all the other credit cards and then you pay as much as you can afford on the card with the lowest debt. This will allow you to pay off the card with the lowest balance very quickly. Once that card is paid off, repeat the process with the next lowest debt. As you pay off the cards you will have more money to apply to the next card on the list. This will pay them down faster, reduce the amount of interest that you are paying and give you a sense of actually getting out of debt.

STEP 5: GET HELP                     

If any of your creditors are in the process of taking legal action against you or you are experiencing trouble in meeting all your monthly debt requirements, there is help.

For a free debt assessment contact 0861DEBTAID.  An NCR registered debt counselor from Debt Aid Debt Counseling can help you consolidate all of your debt into one affordable monthly payment without incurring any more debt.

www.debtaidcounselling.co.za

Debt Solutions

In today’s economy consumer debt is extremely high. Credit cards are maxed out. Most people have more than one mortgage and some even have three. Most people do not want to be in debt, but it seems that circumstances left them with no choice.

Few consumers have any real experience in managing finances. They generally do not receive any training in school on how to mange a budget and, as a result, many people find themselves with money problems. Fortunately there are resources that can provide one with information on how to manage debt. Refinanciacion De Deudas is one such company. They try to show people how to manage debt and what to do if they find themselves with to much debt. So if you find your self burdened with a lot of consumer debt you may want to contact the professionals at Refinanciacion De Deudas.