Keeping temptation away helps to stop the bleeding but it does nothing to correct past mistakes. You still have to handle past purchases, past loans and other debt you have incurred. Now that you have stopped the bleeding by saying no to new debt, take all extra cash you have and apply it to old debt.

Take any extra money and wipe out all your small debt first. It can be discouraging to limit your wants and not enjoy a few extras as you have in the past, but by doing so, you will soon make some real progress. As you wipe out smaller debts one by one, you will soon be encouraged and energized to pick up some speed and move ahead to the next debt casualty.

Will it be hard work to make these difficult but necessary no-spending choices? Certainly! But keep the bigger picture in mind. Someday you will be debt free and on your way to a better, stress-free life.

Have you made this choice yet? Your comments appreciated!

Content © Rich Brott, 2011

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