Get Debt Free



The Basic Formula
There is only one basic formula for getting debt free and that is:

  1. Stop creating more debt.
  2. Pay off all existing debt.
  3. Continue to live debt free.

Everyone can become debt free by following these 3 simple rules. It’s not magic, but you must stop creating new debt.

" You will never be free of debt until you stop creating new debt. Tell yourself that enough is enough ..."

If You Really Want to be Financially Free
The world has been subject to the greatest explosion of debt ever. More people are in debt now than ever before and at much higher levels. People are losing their homes in droves and bankruptcies have increased to record levels.

If we remember back to the days of our grandparents, we find that they never purchased anything until they had the money to pay for it. As a result, they never got into debt. It meant they had to be patient and they resisted being part of the “I need it now” and “I must have it now” type mentality.

Our grandparents taught our parents a similar philosophy. Somewhere along the line the next generations got a bit off track. They weren’t prepared to wait. They had to have whatever they desired – immediately.

All this has contributed to the increase in credit card debt and other debt.



Some Ways to Get Free
Some ways to get free include:

  1. Get the lowest possible cost on the home mortgage and see if it can be reduced quickly through mortgage reduction.
  2. Make a decision to break free from credit card slavery and do it now.
  3. Draft up a sensible plan to pay debt and then stick with it.
  4. Replace all the various high interest bills with a single, low interest loan that has a monthly amount coming out of your income before you spend it.
  5. Look at your tax and see if there is any tax methods you can use to keep this payment to the government down.


When do you call in Expert Help?
Here are some situations that may indicate whether it’s time for you to get some help:

  1. Your credit card balances continue to rise while your income is decreasing.
  2. You are only able to afford the minimum amount required on your accounts and on your credit card.
  3. You are always at the near limit of all your credit cards.
  4. You continue to work overtime to keep up with your debt bills.
  5. You really don’t know how much you owe and don’t want to find out.
  6. You have been hassled by creditors through phone calls and letters about paying your bills.
  7. You are starting to use your credit card to buy necessities, rather than luxuries.
  8. You no longer use your credit card for convenience or emergencies, but as a lifesaver each week.
  9. You are hiding the true cost of your debts from your spouse.
  10. You sign up for every credit card sent to you in the post.
  11. You’ve lost your job and are fearful about how to meet your commitments.
  12. You are starting to juggle who gets paid first amongst all your bills and you are using one credit card to pay amounts due on another credit card.
  13. You are simply not happy with your financial situation and have been like this for some time.


Do you need a Personal “Financial” Trainer?
It may be time for you to seek the help of a credit counsellor. This is someone who will sit with you and try and help you face up to your situation, as well as set out a plan enabling you to pay off your debts.

Many people are weighed down with debt and they opt for helping themselves first. They look at trimming back on their spending and keeping a close eye on the accounts and watching how they allocate their income each week. However, some people do not have the willpower to do this. They require the help of a “personal trainer”. The important thing is for them to recognise when they need this expert alongside them, to help sort out their situation.

If you are showing signs of being in debt trouble and some of the points in the previous paragraph apply to you, it would be wise not to hesitate any longer. The earlier you get help, the happier you will feel and the easier it will be to repay your creditors.