I remember the day my wife Jane and I realized that we were in trouble- debt trouble. We really wanted to live debt free. It felt like we were carrying the weight of the entire world on our shoulders. We owed everyone money- credit cards, mortgage company and even family. There seemed like there was no escape.
We had to somehow face our debt head on and the fact that we had a very real problem. The decision to find out how to change this situation was the turning point in our life. In the course of discovering how to get out of debt our family discovered a very interesting fact- everything we knew about debt was wrong, dead wrong. Thankfully we discovered the solution just in time to save our financial life and our marriage. Yes, it was that bad. Anyone out there who has faced this situation knows what it really feels like.
In our search for a debt free lifestyle we discovered that many other people were searching for the remedy for their own debt problems. We discovered that we were not alone and that there was help out there.
The First Steps- Live Debt Free
Our first course of action was to write down the problem. It may seem silly but, just the simple act of making a list of who we owed money to and how much gave us a clear objective to shoot for. We knew exactly what we had to do. We discovered we were just over $43,000 in debt. We just couldn't believe we had let things go so far.
Set a Goal- Live Debt Free
We knew how much we owed; now we set a realistic goal of 3 years to be out of debt. We contacted all of our creditors and told them our objective, and we asked them to eliminate the interest on our total amount owed. An amazing 4 out of the 6 of our creditors agreed to stop charging us interest anymore if we would make regular payments. The monthly accruing interest that usually was growing each month now had been brought under control.
We had in effect turned the tide and our debt started to go down from that point on.
Create a Debt Free Lifestyle-Live Debt Free
You can create a debt free lifestyle but it does take work. You see, eliminating the debt just is not enough. You have to take steps to insure that you don't go back to the same lifestyle choices that got you into trouble in the first place.
You need to take action now. Picture in your mind that debt free home, your car is paid for and when your bank statement arrives in the mail at the end of the month you just can't wait to open it and see the growing balance in your savings account.
Also imagine what would be missing from your life- credit card bills, harassing phone calls and letters from creditors, and that constant dread of going to the door or answering the phone.
What has replaced that feeling of dread and worry? Yes, happiness and contentment. You finally have taken control of your life.
It took us 3 years and 4 months to eliminate our $43,000 in debt. If you want more detailed information on this topic go to the Live Debt Free in Three Years Website.