subject: Cut Yourself A Paycheck [print this page] Are you in debt? If so, then you may want to start paying yourself. This may sound like a strange idea, but it's also an idea that financial consultants have been suggesting for some time now. When you decide to pay yourself a weekly salary, you will be able to accumulate money faster than you may think.
Here's how it works: set up a bank account that you cannot withdraw from. Then, deposit any amount of money into the account each week - this could range from ten dollars to two hundred dollars (or more). After one month, see how much money you were able to gather. Chances are that you'll have a lot more money than you ever thought possible.
You see, when you have more debt than you can handle it's easy to get wrapped up in payments. When you begin to scramble to make payments each month, you forget to save any of your money. Neglecting to save money is a big mistake - after all, what will you do when that proverbial "rainy day" comes?
If you can't even spare ten dollars per week at the moment, then you may be in over your head debt-wise. In this case, it's far better to pay off a large chunk of your debt right now, and then begin saving money. To do this, contact a private loan lender for a debt consolidation loan.
Private lenders will be able to loan you the money that you need right away. In fact, some lenders allow you to apply for a private loan online without ever leaving your home. Within hours, you'll know whether or not you have been approved for a loan. Once you have the funds that you need, pay off your debts right away.
The good news is that private lenders of secured loans don't base your loan upon past credit problems. For example a car title loan is based on the value of your vehicle, not on your credit. So, even if you have more debt than you can juggle, you don't have to worry about being turned down for a loan. As soon as you have a handle on your debts, you can start to save some money.
This financial method will leave you plenty of room to begin creating a weekly savings account. The more money that you can put aside each week, the better off you will be in the long run. Paying yourself may sound like an odd idea, but it's actually the best way to ensure that you have a future financial safety net.
by: Molly Wider
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