Getting Out and Staying Out of Credit Card Debt


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I have been an avid student of Robert Kiyosaki for years.  The one thing that he emphasizes in his writing is how many people do not know the difference between ‘good debt and ‘bad debt.  A ‘good’ debt is one which has the propensity to gain wealth.  It is your assets.  ‘Bad’ debt is that which will never repay you and will cost you many times over.

Credit card is the worst debt of all.  Today’s post will help you to identify how you can reduce this burden of ‘bad’ debt and be on your road to freedom.

Credit card debt is a major cause of over one million bankruptcies each year.  The reason is that many people get a credit card without researching and reading the fine print.  By the time annual fees are added on, along with spending indiscriminately, payments are missed, which causes their balance to skyrocket.

Although we all like to place the blame on the credit cards and the credit card companies, you need to keep in mind that the real cause of your financial mess is you.

One shopping spree does not usually cause high debt.  It is usually a pattern that consists of gradually increasing purchases that add up to a large debt.  The great thing is that it can be very easy to get out of debt.  The key is to start spending less than you make.  This is a long-term solution that can help you to whittle your debt down.

Although it may sound simple, it can be very difficult if you have a problem with willpower.  It is important to stick with spending less than you make or you will find yourself in exactly the same place as you were before.  Overcoming your debt will take willpower and a great deal of time.

It may be difficult to stick with your debt repayment program, but keep yourself strong and you will find yourself out of debt before you know it.

It is important to learn how to get out of debt and then stay out of debt.  If you can summon enough willpower and strength towards your finances and spending, then you will find yourself the winner in the game of debt.  It may be easy to get into debt, but getting out of debt is much more difficult, but worth it.

One simple phrase can sum up the solution to your financial problems.  If you don’t have the money to spend, then don’t spend it!  While this may sound harsh, it is the best way to become and stay debt free.  If a purchase is more than you can repay comfortably in two or three payments, stay away from it.  It will be better to save up for it and purchase when you can then to risk the debt cycle.


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