Have an enormous amount of debt? So many people in these trying times have relied far too much on credit cards. That’s one scenario. Perhaps you just have a mortgage and a car payment. Can you see the light at the end of the tunnel? Maybe? Debt and money problems can take a major toll on not only our credit, but our health and relationships. It did mine once upon a time.
I am NOT a proponent of consolidation and like Dave Ramsey puts it: “A friend of mine works for a debt consolidation firm whose internal statistics estimate that 78% of the time, after someone consolidates his credit card debt, the debt grows back. Why? He still doesn’t have a game plan to either pay cash or not buy at all. He also hasn’t saved for “unexpected events” which will also become debt.”
And, as Larry Burkett, noted financial author, says: “Debt is not the problem; it is the symptom. I feel debt is the symptom of overspending and under-saving. Our financial coaches will not recommend debt consolidation for a client. Why? Because debt consolidation doesn’t work.”
As Jan Verhoeff puts it “……. living within the budget, paying off the debt and cutting the spending”
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Well said Jan and Yes, a FABULOUS way of living and getting and staying out of debt. And, this method works for many who are disciplined and have no or little debt RIGHT NOW.
But, if you’re already deep and in the hole so far down that you can’t hardly see the light, there are methods of paying off debt faster. You could learn about and implement strategies like being your own banker also known as the Infinite Banking System. Do you know about using debt weapons? Weapons already in your possession? I want to share with you a most fantastic resource that will give you a HUGE insight about what I’m talking about here. Learn how you can become debt free in 3-5 years without debt consolidation. You can also take advantage of learning about:
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Don’t forget to subscribe and I’ll see you the next time!
(c) 2013 D.C. Brown