Debt Reduction and The Secret of How to Get There
L. B. James
The true secret to debt reduction is for you, the debtor, to be totally committed, absolutely 100% committed, to get rid of your debt entirely. Have you ever been absolutely obsessed about achieving something? Anything? Stop for a moment, reflect back on your life and consider a time when you were 100% obsessed.
Getting Excited About Debt Reduction
Maybe it has been a while since you were in college, and you were obsessed about getting decent grades. You attended every class and seminar, and you took lots of notes. You read ahead in your assigned studies and focused clearly on your assignments with great intensity. You studied early in the semester so you weren't caught short at mid-terms or finals. Your friends and family knew better than to expect you hang out with them or to slack off.
Maybe it was a car you were excited about. You looked up pictures of it on the Internet and read reviews about it. You read the owners' club pages and rubbernecked every time you saw a car like it drive by while you were cruising around town in your boring old car. You sacrificed, saved, and put away all the money you needed to buy your dream car. And then came the proud day when you owned that car, and it was yours.
Get Really Obsessed About Debt Reduction
Debt reduction takes a certain kind of commitment, dedication, and, yes, obsession. You should be thinking every day, 24/7, about how you can reduce your debt. As you board the bus or train to commute to work instead of driving, congratulate yourself on all the money you are saving on gas and parking.
At lunch, when your co-workers spend $7 to $10 or more on sandwiches, salads, and hamburgers remove your sandwich or salad you brought from home out of your lunch bag and pat yourself on the back for reducing your debt by $50 or more per week, over $2,600 per year to be used for debt reduction!
After work, at night, enjoy a movie on DVD. Save $10 to $20 by watching movies at home instead of going out to see them. Eat dinner, and dessert if you wish, at home. Ask if someone can teach you how to cook if you don't already know how.
Track Your Changes
Keep a notebook or journal of your quest for debt reduction. Write down every cent you save, so you will know that your minor efforts have been worthwhile. At the end of every week, add up your savings and write a check for the amount you have saved. Use that money to achieve your goal of debt reduction by applying that sum to your highest interest credit card.
About the Author:
Author L. B. James has written many unique articles about reducing debt. See more of his works here about Debt Reduction. You can also read other articles by him at the blog Desert Blogger.
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