Destroy Debt

Debt is probably the number one destroyer of the average American family. More marriages end up in divorce over debt than anything else. People’s lives can be miserable because of the burden of debt they are carrying. The average American family is in debt to the tune of…Who cares about the averages? You are only concerned with your debt and ready to destroy debt and live debt free.

First take a look at how you got yourself into debt in the first place. If you want to destroy debt, you must understand where it came from. Credit card debt is probably the hardest debt to destroy. It is so easy to “put it on the card” and before you realize it, you have several maxed out credit cards and find it a huge burden and struggle just to make the minimum payments each month, and as we all know, sometimes we don’t make them each month.

What happens then, yes, late charges, finance charges and oops, more debt. If you want to destroy debt, totally eliminate debt and live a debt free life, you have to get it under control. There are many debt consolidation companies and finding one that you can trust is not always easy. So what does one do, to destroy debt? First thing you need to do is get rid of the credit cards, cut them up, burn them whatever you want to do, just quit using your credit cards to run up more debt. If you can do this, then from that point on, things will soon get easier.

Ok you say, it is easy to talk about but not easy in practice. Well you’re right. That is why you have to have a very well laid out plan to destroy debt, eliminate debt and turn your financial life around. Some say to take on your largest credit card debt by doubling up on just one card and get it paid off. So how long will that take? Another approach to destroy debt is to take the smallest balance and put everything you have available against it, make every effort to eliminate this debt.

What this does for you is one, you destroy the debt faster, and two you win a small battle. Next you take on your next smallest debt and not only make the payment on it, but take the amount from your victory and apply it to this one as well. Then on to the next debt and eliminate it as well.

As you can see, this will, in time, eliminate your debt, it will destroy debt faster than if you were to try to pay off the largest debt balance first. Taking one step-at-a-time, you gain control of your debt and the final result will be that you destroy debt, all of your debt. Yes, once you have all your credit card debt eliminated, take on your mortgage.

While this is only a brief summary of how you can destroy debt, I suggest you learn more about these techniques and learn how you can eliminate debt, destroy your debt and live debt free.