The secret key to debt reduction is for you, the debtor, to be absolutely committed, totally 100% committed, to reducing your debt or getting out of debt entirely. Have you ever been totally obsessed in achieving anything? Take just a moment, look back on your life and think of a time when you were that obsessed.
Get Very Excited About Debt Reduction
Maybe it was while you were in college, and you were obsessed with getting good grades. You attended every class, and you took copious notes. You read ahead in the syllabus and focused on your assignments with feverish intensity. You started studying early in the semester so you weren't caught short at Finals or mid-terms. Your friends and family knew better than to expect you to slack off and hang out with them.
Perhaps it was a car you were truly excited about. You looked up pictures of it in car magazines or on the Internet and read reviews and reports about it. You read the owners' club books and craned your neck every time you saw a car just like it drive by while you were cruising around town in your shabby, boring older car. You saved and sacrificed, and put away all the money you would need to buy your dream car. Then came the proud day when you purchased that car, and it was all yours.
Getting Obsessed About Debt Reduction
Debt reduction takes a certain kind of commitment, dedication, and, yes, obsession. You should be thinking every day, 24/7, about how you can reduce your debt. As you board the bus or train to commute to work instead of driving, congratulate yourself on all the money you are saving on gas and parking.
At lunch, when your co-workers spend $7 to $10 or more on sandwiches, salads, and hamburgers remove your sandwich or salad you brought from home out of your lunch bag and pat yourself on the back for reducing your debt by $50 or more per week, over $2,600 per year to be used for debt reduction!
At night, after work, enjoy a movie....on DVD, that is. Save $10 to $20 by watching movies at home instead of going out. Eat dinner and dessert at home. Ask someone to teach you how to cook if you don't already know how.
Keeping Track Of Your Changes
Keep a notebook or log of your journey toward debt reduction. Record every cent you save so you will know that what minor efforts have been made are worthwhile. At the end of the week, total up your savings and write a check for the amount you have managed to save. Apply that money toward your goal of debt reduction by paying that sum to credit cards with the highest interest.
Get Very Excited About Debt Reduction
Maybe it was while you were in college, and you were obsessed with getting good grades. You attended every class, and you took copious notes. You read ahead in the syllabus and focused on your assignments with feverish intensity. You started studying early in the semester so you weren't caught short at Finals or mid-terms. Your friends and family knew better than to expect you to slack off and hang out with them.
Perhaps it was a car you were truly excited about. You looked up pictures of it in car magazines or on the Internet and read reviews and reports about it. You read the owners' club books and craned your neck every time you saw a car just like it drive by while you were cruising around town in your shabby, boring older car. You saved and sacrificed, and put away all the money you would need to buy your dream car. Then came the proud day when you purchased that car, and it was all yours.
Getting Obsessed About Debt Reduction
Debt reduction takes a certain kind of commitment, dedication, and, yes, obsession. You should be thinking every day, 24/7, about how you can reduce your debt. As you board the bus or train to commute to work instead of driving, congratulate yourself on all the money you are saving on gas and parking.
At lunch, when your co-workers spend $7 to $10 or more on sandwiches, salads, and hamburgers remove your sandwich or salad you brought from home out of your lunch bag and pat yourself on the back for reducing your debt by $50 or more per week, over $2,600 per year to be used for debt reduction!
At night, after work, enjoy a movie....on DVD, that is. Save $10 to $20 by watching movies at home instead of going out. Eat dinner and dessert at home. Ask someone to teach you how to cook if you don't already know how.
Keeping Track Of Your Changes
Keep a notebook or log of your journey toward debt reduction. Record every cent you save so you will know that what minor efforts have been made are worthwhile. At the end of the week, total up your savings and write a check for the amount you have managed to save. Apply that money toward your goal of debt reduction by paying that sum to credit cards with the highest interest.
About the Author:
About the Author: L. B. James has written several unique articles about getting out of debt. Find more of his writings here about Debt Reduction. You can also see other articles by him at the blog Desert Blogger.
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