Tons to talk about:
Check out the latest Episode of the No Credit Needed Podcast. I discuss my first credit card mistake, step 4 in getting out of debt, and my weight loss.
There are a lot of “systems” or “methods” for getting out of debt. Here are the first 4 steps that I used, and I think that they are basic enough that anyone can use them.
1. Know what you owe. (This seems basic, and it is, but there are people who just do not realize how much they how and to whom they owe it. Make a list of your debts, your balances, you minimum payments, etc. Understand your debt “load”.
2. Get organized. (Clear some space off of your desk, clear your mind, organize your files, etc.)
3. Understand how much extra you can pay towards your debts each month. (Add your MINIMUM payments together, and subtract this amount from the TOTAL amount you can pay towards debt reduction each month. Pay this amount towards your lowest balance or your highest interest rate, depending on which method you chose. I used lowest balance. Remember: ALWAYS pay your minimums, and put the extra on ONE debt.)
4. Make a plan and stick to it. (Use a budget program, use pen and paper, but use something. When you fail, get right back on plan. That is what the plan is for.)
No Credit Needed Network: More details to come in the very near future. If you have a financial or weight loss goal, and want to share it with the world, you can! Check back MONDAY!
Today, I am announcing my own brand new goal, of saving 12000 dollars by 10-10-2006! Check out the new chart on the right hand side of this page.