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Grow your wealth

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It's not about how hard you work

Ever heard the expression Work smarter, not harder? Well the same principle is true when it comes to improving your financial situation. There are plenty of people just like you and me that work hard their entire lives and still only manage to barely scrape by. The secret to growing your wealth is to think of your life as a business and step one in any business is to control your costs.

Control your costs

Credit Cards are the enemy

Credit Cards are a great tool but can also be great at getting you into trouble. The first step in controlling your costs is to calculate what they really are. Get a notepad and a pen and write down how much you think you owe. When you have that number, use the link below to go to the simple debt calculator and punch the numbers in there. Be surprised for a nasty shock because the true number of what you really owe is going to be shocking, that's the real power of interest rates. Use the calculators now and once you know what you really owe, keep reading.

CLICK HERE: to use these free, online, financial management tools to calculate what your REAL debt is and how long it's REALLY going to take you to pay it off and become debt free.

Cut your credit card costs

Credit Cards will keep you poor if you let them

So you've used the financial calculators above to work out how much you really owe, that's the first step in a three step process. Step two is stop using credit and start saving. Using credit and paying interest rates for non-emergency items is a waste of money. If you can't control your spending, cut them up. Sounds drastic but hat's what we did and we didn't even have very much debt.

Step 3 is get a better interest rate on what debt you do have. Sometimes it's as simple as just asking the bank for a better rate, sometimes you need a little help from an experienced debt negotiator. Use the link below to find out how to lower your interest rates.

CLICK HERE: to get some help with lowering your credit card interest rates.

Have a budget

Personal Finance Workbook For Dummies

by: Sheryl Garrett

Amazon Price: $0.01 (as of 06/01/2012)

A critical step in lowering and controlling your debts is to have a budget. Without a budget you will find it very difficult, if not impossible, to improve your financial situation.

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cynthia-ann-leighton May 10, 2012 @ 4:23 pm | delete

Yes. Too true. Good ideas! I cut up my credit cards too. Looking back, I had an almost unbelievable string of life-threatening emergencies one after another. My savings plan now is basically working extra (tbuilds wealth) and don't spend money. Just got my first debit card. It acts kind of like writing a check. Got a prepaid card as well.