How to eliminate credit card debt legally, fast
I received this email from a reader who shows the simple and straightforward way how to eliminate credit card debt and do it legally and fast. It did take extra effort and few sacrifices, but he will be debt free at no time while kicking bad habit and having fun. I edited his email just bit to plug few relevant links. After all I can do it.
I am a 27 year old army vet and work as a junior accountant, second year after college. While getting my degree, I accumulated some $17,000 in credit cards. I wanted to eliminate this debt, but with new apartment and car it proved a bit hard to accomplish. I read few books, listened to few experts on the radio and almost signed up with debt consolidation company. I also have few friends with similar debt problems. I the end, after reading your site, I decided that to eliminate my credit card debt fast, I needed to do two things - spend less and earn more. The simplest debt elimination plan one can ever find.
One of the best debt elimination strategies is to increase your income and decrease your spending. Once I realized that, everything else fell in place. I quit smoking after 11 years and annoyed my boss enough so I can now work from home on Wednesdays. I puffed 12 to 15 cigarettes a day sometimes more, which in today prices saves me close to $17 a week. My work commute is approximately 60 miles, I figured I cut another $8 for gas (say $2.50 for gallon, 20 miles per gallon) plus $6 for lunch on average. So total is $124 per month. I take home $3,520 a month, so it is like getting a 3.5% raise. I also decided to eliminate my Thursday bowling outings.
I also found a second job in my local gun shop. Business is still booming, thanks to all the hype around democrats and guns, and I am getting $7 per hour cash. I am there at least 20 hours a week, so it is another $560 extra per month, sometimes a bit more. All said, I make close to $700 more a month than before.
For the last three months I have paid everything I saved and made towards my debt, in addition to my regular payments. It is very pleasant feeling to take charge and eliminate credit card debt, and do it so fast, legally and on my own, without any debt management companies. I have to admit, I got a kick of your post on Dave Ramsey, bad debt and debt reduction. I listened to Suze Orman as well.
My credit card debt is now down to just over $13,000, so still long way to go. I was actually thinking to cut my land line and use company paid cell phone, but instead I am switching to Vonage, it should save almost $20 a month. I will keep only basic cable and started going out much less. Here, I hope is another $250 in monthly savings. I also sold some 45 books on EBay, mostly text books, netting a tidy sum of $320. All will help, This is how to eliminate credit card debt fast and for good. Feel free to publish this, I think it is worth sharing with your readers.
Wed Sep 23, 2009 01:09AM | Copyright: www.bad-credit-advisor.com | More in Credit Card Debt | Comments (0)
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