If you’re in debt right now, then watch and read carefully below to learn some of our best strategies for how to get out of debt.

It’s important to understand that there’s two types of debt: good debt and bad debt.




Bad debt is credit card debt or any kind of consumer debt that is at a high-interest rate. You want to avoid at all costs this type of debt, as it can be very challenging to get out of due to such high-interest payments.

Good debt is debt that has a lower interest rate and the money is being leveraged to buy assets or investments that are bringing you are greater income than what you’re paying in interest payments. For example, a mortgage can be considered good debt as the value of the property or the income it’s generating for you can be greater than what you’re paying in interest payments.

With that being said, this video is geared towards the bad debt and how to get out of it.

Are your credit card debts making you crazy? Are you spending excessively this holiday season?

Well, you’re definitely not alone. Being in debt is a lifestyle nowadays. Particularly now, coming up to Christmas.

For many people, money gets REAL tight this time of year– we need to spend for all the Christmas presents, prepare for next year’s tax bill, then there is your vacation to pay for.

What can you do if your financial obligations have taken control of your life?

Make getting out of debt your New Year’s Resolution for 2017!

Here are 5 easy tips for leaving debt. Keeping a New Year’s Resolution is challenging. But if you follow these ideas, you’ll be prepared for a thriving 2017!

1) Write down your goal and make a plan for achieving it!

The initial step to getting from debt is without a doubt the most essential– you need to:

  • Make a promise to yourself to get out of debt
  • Make a written plan to get yourself out of debt
  • Stick to that debt free plan no matter what.

You didn’t get into debt overnight, and you will not get out overnight, either. But if you want to get out of debt– if you REALLY wish to leave debt, you need to have a strategy. And you need to stay with it.

2) Seriously consider using a program to decrease your debt

If you have the discipline to get out of debt by yourself, without any help, then great for you! But if you’re like most people, a little aid will go a long way in helping you get out of debt.

Here are a few debt reduction programs to think about:

  • Credit counseling: If you have high rate of interest on your credit cards, dealing with a non-profit business will assist you lower those high rates, and combine your credit card expenses into one lower monthly payment– which implies more of your loan will go towards minimizing your financial obligation!
  • Debt consolidation loan: If you own a house, you can consider getting a home equity loan to pay off all your credit card expenses, lower you rate of interest, and perhaps subtract the interest on your taxes (but contact your tax expert on this one).
  • Debt settlement: If absolutely nothing else is working, and your financial obligation is still overwhelming, then you should consider financial obligation settlement. This is a more aggressive approach and is not right for everyone, but if you’re thinking about bankruptcy, this is an excellent choice. You can settle all your credit card expenses at a cost savings of 40-60%, and get out of debt much quicker.

3) Start fixing your credit problems

Many people believe that anything that goes on your credit report remains there for 7 years. Well, that’s not constantly true. I got a lot of unfavorable credit items off my credit report– all I did was get a copy of my credit report, and ask the credit bureaus to eliminate the “bad things”. In just a few months, my credit was nearly back to typical. There’s nothing that states we should pay for our mistakes forever (and even for 7 years)!

4) Cut down your monthly expenditures

If you overdid the costs in 2016, then it’s time to cut out all the expenditures you do not require, and utilize the money you conserve to pay off your credit card bills. Have a look at your monitoring and savings account statements, your credit card declarations, and your regular monthly expenses. Then start trying to find things to cut. I understand, I know, it’s difficult to live without cable, cellular phone, web access, the morning paper, weekend dinners and home entertainment. BUT DO IT ANYWAY– a minimum of until you get your debt back under control!

5) Make some additional pocket money

In some cases making more loan is the very best response! There are great deals of methods to make loan– selling a few of your prized possessions, getting a part-time job, starting your own organisation. Regardless of a few of the advertisements you read, there’s no really secret to making cash– you just have to discover something you like to do, and strive at it!

6) Think Positively

OK, there were only supposed to be 5 pointers, however this one is the best one– no matter how hard life can get, no matter just how much financial obligation you have, the one thing in life you can control the most is how you think. So instead of concentrating on what you do not have, be thankful for all that you do have. No one passes away wishing they had actually made more cash or worked longer. However many individuals do be sorry for all the fun and meaningful things THEY DID NOT DO! So make a long time to have fun, think favorable, and discover little methods to take pleasure in life EVERY SINGLE DAY you are here on plant Earth!

Wondering exactly what makes me an expert on financial obligation? Well, I endured it. I understand exactly what it feels like to battle. And I know what it seems like to conquer monetary issues. There’s nothing special about me. I operate at a college, so I do not make a heck of a lot of loan. I didn’t win the lotto. And no abundant loved ones left me a stack of cash.

I just found out a couple of basic techniques– in fact, I discovered the 5 pointers you simply check out– and stuck with them up until my life altered for the better.

And you can, too– simply follow the pointers above, believe in yourself, and don’t let anything or anyone stop you attaining your lifes financial goals.

Download our Free e-book and change your life today.

Why You Should Commit Yourself To Getting Out of Debt
How to be a Financial Success