Learn How to Get Out of Debt in 11 Steps
Henry David Thoreau once said, “Almost any man knows how to earn money, but one in a million knows how to spend it.” Most people have not mastered the art of frugal living – living within your means. It is commonplace to use credit cards and buy on a whim. Moreover, debt continues to grow and as your paycheck fizzles away, plastic replaces reality. Spending more than you make becomes a habit and your debt becomes a way of life.
In fact, learning how to spend with intention and cut out unnecessary items from your budget, can be your saving grace if you are in debt.
Are you in debt? You are not alone. Over 50% of Americans are in debt right along with you. The average American family carries a credit card debt of $8,377 according to CNBC.com.
One solution is to toss up your bills and hope you win the lottery, but your odds are super low. So now is the time to solve your debt dilemma.
Reasons to Pay off Debt:
- peace of mind
- ability to save for an emergency fund
- less stress
- no family fights about money
- own your house and car outright
- fewer bills
- pay less interest
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