Avoid Debt Consolidation

First thing that we need to do is to find out where you are right now with your personal finances. I want to say that all though many people don't need debt consolidation, they will be tricked into the false security from the hype that is portrayed on TV. What we want to focus on here is how we get out of debt with out debt consolidation. The solution is simple with my technique. So get out a piece of paper and write down all your debts and their minimum monthly payments and balances.

I will show you how to use a system called debt stacking to eliminate the debt in half the normal time and save thousands of dollars from going to interest. I must say here that the banks setup the loan structure to keep you paying and paying keeping you in debt for a very long time. Alright back to reducing debt with debt stacking.

The first thing is to stop spending on credit cards! I mean like now! You will pay roughly 400% on most credit cards and they will normally take 30+ years to payback if you only make minimum payments with out spending any more. Don't worry this is where I tell you the little know secret to eliminating that credit card in only four to six years. Whatever the current minimum monthly payment is that is the number we want to work with. So let's say that this month's payment is 60.00 dollars. Next month if nothing else is charged to the credit card the minimum payment will be about 58.00 dollars DON'T PAY 58.00 continue paying 60.00 dollars. Do you see how that works?

First thing Stop Spending on Credit Cards

Second is to continue paying the same amount each month and every month on the credit cards

Third thing is focus all your financial energy on one debt. What do I mean by this? It has been my experience that many people who attend my financial seminars are trying to pay down their bills but never seem to get very far, this is because they are paying a little extra on each debt instead of focusing on one debt at a time. So if you have an extra 25.00 each month apply it to the debt with the smallest balance first until that debt is paid off. (More on how to come up with extra money later when we talk about budgeting.)

Next is once one debt is paid off take the money that was going to that debt and applies it to the next debt in the list until all debts are paid off. This is called debt stacking. The Rapid Debt Reducer Software was designed to do this for you and show you how much money will be saved instead of debt consolidation.

SoLongBills.com is a key resource in providing up to date financial resources to eliminating debt and living life better

Avoid debt consolidation at all cost until you have reviewed my method of reducing debt!

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