Consumers are straddled with an average debt load of six-
thousand dollars on their credit cards.  Naturally, none of
us intend to remain indebted to credit card companies by
continuing to charging purchases with them again and again.
Dishing out cash just doesn't seem to be as entertaining or
even as simple as whipping out the plastic and signing
away. But the privilege comes with a price otherwise known
as interest and if you ever want to be free of debt there
are a few things you need to know.

1.  The first, and most painful step, is to break out the
scissors and hack all those beautiful cards to shreds.
Tell yourself that signing for anything you buy is simply
not possible and thus the credit cards are not an option.
When the letters telling you that you have been
"pre-approved" for some great card with no interest for
six-months, just say "no".  Most people with credit cards
actually have ten cards or more but if you have no choice
but to use one for business, keep that monster locked away
in some deep dark place so that you can't get to it when
tempted to make an impulse buy!

2.  Eliminate any all debt balances.  Beginning with the
lowest balance, start paying as much as possible until that
balance reads zero.  Now, take whatever you were paying
each month on this card that you have just paid off and add
that to the minimum payment of the next lowest balance until
it, too, is paid off.  Apply this formula to every card you
have until you are finally free of credit card debt.

3. Learn to live on a budget. Make a monthly budget that
lines up with household income. Include a short-term
emergency fund for unexpected needs like a car repair, and
add a long-term savings plan. Use cash for purchases beyond
monthly mortgage and bills. That way, you will be inclined
to spend less at the grocery store or wherever you shop
than if you were dependent on credit cards.

Items you don't need are the enemy.  If you want to buy
something that costs more than $100, try giving yourself a
"cooling off" period of 24 hours before actually making the
purchase.  Your spouse and you should support one another
in adhering to the budget.  The debt will disappear and the
savings account will grow, giving you a great sense of
accomplishment as you take control of your own fate.  Make
sure the children the very same self-discipline so that
they, too, may know the rewards of a debt-free existence.
Paying cash for the things you buy is a kind of freedom and
if you adhere to these principles it won't be too long
before you can start buying the things you want.

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