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01-01-2010, 12:55 AM #1
New Year's Resolution: Get Rid of Your Debts
Getting rid of your debts can be as hard as or even more difficult than trying to get rid of excess weight. Besides staying fit or weight loss New Year's Resolutions, one of the most common wishes for the New Year is to get out of debt.
If you are really determined to be able to get rid of this worries this year, then, take a peek at these ideas which can help you stay on track with your new resolve for the next year.
Move Away from Bad Habits
Being a shopaholic, for one, can be a really bad habit. Some may find shopping as a stress reliever - but as much as shopping is really exciting, and it can enhance your mood for a period of time, it can end up convertible into debts.
So why not try healthier habits which can produce the same effect? Try jogging, brisk walking or any other physical activity.
Make Debt Management Fun
This is purely personal. You can try seeking fun from graphs you can find from your debt management. Wouldn't it be great to see them dwindle down until a USD 0 debt net worth? Why not give yourself rewards when you're able to pay funds off a credit card? It might make you feel proud bit by bit, of what you have accomplished.
If you want to make your resolution work; be reminded of it every single day. If your loan or Credit Card Company permits you, why not make small daily payments. If you need to extend an hour to get your debt decreasing, then do so. Make it a point that you would think of ways you can minimize your debt little by little.
Focus on Financial Freedom
Do not focus your attention on zero debts. Usually, most of your earnings can go to your creditors. Why not try handing out pay checks or disburse debt payments directly with credit card companies? This will enable you gain independence as you are free to get out of this arrangement, your job at the event that you can get another job with a higher pay.
But it may be better if you think that of things you can do to be free of debts. If you are independent of any financial institutions - like credit card companies, you can gain freedom on where to spend your pay monthly! You need not worry about credit card or mortgage payments! What's good is you can even save up to go to a vacation!
Set your Financial Options
Make wise and firm financial decisions. Always plan on what you can do to make it work. It would be better if you try consulting your credit card company of what means you can do to lessen your debt.
Decide on how quick you want your debt off of the way and how much you need to pay before gaining financial freedom!
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