How to Reduce or Eliminate Your Debt - Permanently!

Everyone dreams of living the debt free life. But enjoying a life without debt is more than just pure luck or amazing wealth. You too can live debt-free by making just a few easy changes to your financial lifestyle.

1. Consider Credit Card Offers - Carefully. All those "pre-approved" offers in the mail might seem like a mere annoyance, but some of them may provide you with a low rate to entice you to transfer.

Read each one carefully and consider the length of the rate, and whether its fixed or variable. You may be able to shift your balance over to a lower-rate card and get it paid off sooner.

When you get a new card, get rid of the old one. You don't want a dozen credit cards with balances creeping up on you every month! And by transferring your balances to a lower rate card, you may be able to save a substantial amount of money in the process.

Don't forget to look at the "card fee" too. Some cards will charge you a yearly fee of $20 in exchange for half of the interest rate of what you'd pay with a no-fee card!

2. Pay with Cash - One of the biggest drawbacks of using credit cards is the urge to buy something when you're out shopping - thinking you'll simply pay it off at the end of the month. This is the easiest and fastest way to built up excess debt.

To avoid this temptation, only pay with cash. If you can't afford it - don't buy it. Having only cash on hand makes you consider your purchases more thoughtfully and carefully.

3. Budget and Cut - Make a realistic list of your monthly expenses to see where your hard-earned money is going. You may be surprised at how much you're paying for things like your cell phone bill and cable TV subscription.

It's difficult to make cutbacks and sacrifices - so one idea is to create a "money jar" for the excess expenses in your life. Each month when the bills are paid, set aside a certain percentage for the money jar, and put the rest toward eliminating your debt. Once the money in the jar is gone - that's it. You'll be surprised to see just how much you can save with this method!

4. Put an End to Late Fees - One of the most insignificant things you may not even consider are late fees. A day here, a day there - no big deal, right? But in the fine print on some of those credit cards, you may find that the late fee is as much as 15% or more on top of what you already owe! Plus carelessly forgetting to pay on time can also put a strike against you on your credit report.

Make a concentrated effort to pay on time, every time. Paying more than the minimum will also help discourage the debt from piling up. But you have to take action. Start today and you'll see that in no time at all, you'll be free from the grip of debt - for good!

The More You Know,

Judy O'