Are You Drowning in a Sea of Debt

May 13, 2008

Getting out of debt and becoming debt free will require patience, commitment, and consistency. The most important part of this step is to restructure the way you pay your accounts and set priorities.

We know very well that everyone is excited about getting a fresh start especially upon graduation, and unfortunately in most cases this start is at the same time the beginning of debts!

You will accumulate loans, credit card bills, and miscellaneous expenses and costs. These debts you are building will unfortunately stay with you a very long time if you do not know how to manage and get rid of them in the shortest time by paying the least interest. Debts and interest charges can eat you alive!

The first advice to become debt free is to pay attention on how you are spending your money, the second is to summarize your debts and get a debt reduction plan.

For more on debt consolidation, mortgages and other related articles, go to

How to Avoid Debts

May 13, 2008

Take the following advice to avoid debts:

–        If you have credit card debt, this is the biggest cause of debt accumulation, you must pay them off as quickly as possible to avoid long term debts.      

–        Having multiple cards is like owning multiple weapons and you will risk injuring yourself. Keep one or maximum two credit cards with you. This way you can handle your debts easily

–        Educate yourself on how credit cards calculate interest. Then, check the interest rate on your credit cards.

–        Never use your card for something you cannot pay for with cash. When you have a cheque account and have a debit card, use it. This card is very useful for small items rather than paying interest on them. Credit cards make paying money easy. They also make going into debt easy.
–        Always have a plan to pay back your debts. If you need to buy something, first think “how can I pay it back?”

For more on debt consolidation, mortgages and other related articles, go to