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Podcast and Blog Together At Last!

The lastest episode of the No Credit Needed Podcast goes hand-in-hand with the last two posts here are the No Credit Needed Blog. If you are reading the How To Get Out Of Debt Series, I think that you will be very interested in the latest episode of the podcast. Please check it out. Thanks.

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Debt Reduction

How To Get Out Of Debt: Step 2

Step 2: You now have a sheet of paper with your list of debt accounts. Re-order your list so that you have your accounts listed lowest balance to highest balance. Nest, write down your monthly minimum payment for each account. Add your minimums together. This is your total monthly minimum payment amount for all of you debt. This is a very important number to know. Why? Because, no matter what happens during the month, it is vital that you make your minimum payments on all credit accounts. Missing even one payment can cause your interest rates to soar, and even being just a few days late with a payment can cause harm to your credit and add fees and penalties…

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Debt Reduction

How To Get Out Of Debt: Step 1

I have decided to create a comprehensive, step by step plan for getting out of debt. Please note: I will assume that before you begin your debt reduction, you have saved at least 1000 dollars in an emergency fund and that you have decided to stop adding to your debt load. On to… Step 1: On a piece of paper, list every single debt account that you have, including those with zero balances. This list should include credit cards, personal loans, home equity loans, and auto loans. (You may include or exclude your home’s first mortgage.) Next to each account, write down your current balance. Then, write down the interest rate for each account, next to that accounts balance. Add…

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