The first step in getting out of debt is to find out to whom you owe and how much you owe. Using your credit statements as a reference, list the following information about each debt.

If you find yourself with more bills than your monthly income can cover, one alternative is to develop a debt-management plan. Completing this plan takes patience, but it works if you really want to get out of debt. To set up a debt-management plan, follow these steps: Find out how much you owe and to […]

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 […]

Examine Your Spending Behavior One way to save cash is by not eating lunch out every day. Not only will you save substantially, you will also avoid using the credit card to run up more debt that you do not have the cash for. This chart shows the weekly and annual cost of your lunches. […]

Your journey to financial freedom will be an individual one, with your own circumstances dictating much about your plan. Here are a few steps you can use as a guide to map out your own course. A brief explanation will help you understand its simplicity as well as its usefulness. George Fooshee, Jr. gives the […]