Bust that Debt!

Get out of debt faster! 

Best ways to get out of debt quickly.

• Stop spending! This sounds simple, but it is the hardest part of all. If you can stop adding to your debt, you will already be far ahead of the game.
• When you need to make a purchase, be sure to use cash. This can mean using a debit card, but be sure that you have the money. Learn to buy only when you can truly afford to.
• Move your credit card balances to lower rate cards. Do this even if you have to switch cards every 6 months to a year. The savings you will get in interest will be well worth the effort.
• If you don't qualify for a balance transfer, call your credit card companies and ask for a lower rate. You will be surprised how often they are willing to lower your rate. They know that they have competition, so they will do what they can to keep you.
• Find a method that works well for you. Some people like the "snowball" method, and others perfer to pay off the littlest balances first. Do what will give you the best sense of accomplishment so you will be motivated to stick with it.
• Cut up all your cards, except one for true emergencies. This will insure that you won't use them. The card you keep should be put in a Ziploc full of water and stored in the freezer. This will help you only use it in a real money crunch.
• Value the things that matter most. Value your money and freedom more than the stuff you can buy. Remember that you are not your debt, and that you can do this!
• Make extra income. There are two ways to increase your income to help you get out of debt faster. First, cut back on your expenses somewhere. Second, get another job of some sort. You can even make money online in your spare time.

What Not To Do 

• Don't move your credit card debts to a home equity loan. Don't put your home on the line for unsecured debts.
• Unless you earn an APR on your savings that is higher than your highest credit card APR, don't put money into savings yet. Put that money directly to paying off debts fast, you get a better return this way.
• Don't give up. It's easy to get discouraged, especially when you have a lot of debt to pay off, but you will get rid of your debts and it won't take forever.
• Don't be afraid to ask for good deals, lower rates, and help if you need it. You can't get what you don't ask for.
• Once your out of debt, don't let it happen again!