A Plan for Becoming Debt Free – Part V

No New Debts!

You must decide once and for all not to take on new debt and not to become a slave to your old habits. This is very important! You must decide not to borrow new money for any reason or purchase additional merchandise on credit. This would be an excellent time to have a credit-card-destruction ceremony in your home. Gather your family together, take a large pair of scissors and deliberately cut each credit card into tiny pieces.

Make a list of all charge accounts. Call or write each store and tell them to close your account. You cannot work your way out of debt if you continue to borrow for new purchases. The key to your success in avoiding new debt will be to do without. You will be amazed at all of the so-called necessities you will find that you don’t need.

Your thoughts on this subject? Your comments appreciated!

Content © Rich Brott, 2011

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