To Be Debtfree Involves More Than Debt Elimination
If you have embarked your debt elimination program you should be congratulated
. Regardless of whether you have chosen debt settlement, debt consolidation or a pay down plan, its is an significant first step towards being debt free. It is only the start and these debt elimination programs play an critical role in permitting you to get a new start financially. These debt elimination programs will either bring debt down to level were you can the monthly payment or reduce it totally, either way you are own your way to being debt free
These programs do their part, nevertheless, you must do yours and not accumulate debt as you did previously or the whole process will have without value The process of debt elimination is consequently not only involves getting out of debt but learning new financial competencies that will help you be debt free for the rest of your life.
It can be argued that a small amount of debt is not detrimental and in fact can help our credit and credit score However, most individuals that seek debt elimination programs did not just have a little debt. Of course life has its ways of throwing curves at us and a job loss or sudden illness puts us in a situation were we cannot pay our debt. However, the problem of accumulating too much debt existed regardless.
During and after the process of debt elimination is over its important to learn to manage our money and live within our means. One habit you should perhaps think about forming is that of preparing a monthly budget that includes all your income and expenses regularly motoring and making sure you stick to it. Our debt problems are learned behaviors that arose either from those near us or just society as whole. The good news is that any learned behavior can be modified and new one put in its place.
For many the event they are going through will be enough to persuade them that they must change their spending habits For others their credit card mentality will take a little more effort, but hopefully the occurrence will be enough to make them change
The first step is the easiest and that is to make a honest promising to yourself to being debt free and start the debt elimination process. The process of trying to be debt free may appear threatening or scary at times, but if we focus on the rewards that obtained from it, financial independence, we can get through the challenging times.
Once again I congratulate you on your resolution to be debt free. Im confident you will succeed.
by: Irma Medina
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