Debt Reduction Guide: Staying The Course

No Credit Needed Debt Reduction Guide

Section Four: Staying The Course

Look For Opportunities To Earn Extra Income

As you move forward, you’ll begin to get excited about getting out of debt. Now is the time to look for ways to supplement your income. Consider getting a part-time job. Look through your closets for items you can sell on eBay or Craigslist. Have a yard sale (or two). Take advantage of you talents and look for new ways to use them.

Learn To Celebrate Your Victories

When you pay off your first credit account, take some time to savor the moment. If you are married, schedule a special dinner with your spouse. You don’t have to spend money in order to celebrate! Simply take an afternoon off and read your favorite book or spend some time listening to your favorite album. If you have an accountability partner or good friend, share your news with them. Getting out of debt is a big deal, and you should feel good about your progress.

Start Over

Have you stopped following your debt reduction plan? Are you discouraged? Have you had emergencies or unplanned expenses, which have hampered your progress? We all face challenges and obstacles. Take a few deep breaths, gather your thoughts, and start over. Take a look at your calendar and block out a few hours for yourself. Sit down, reevaluate your plan, and get ready to move forward. Remember, it took time to get into debt and it’s going to take time to get out.

Thank you for reading the No Credit Needed Debt Reduction Guide.

You have been reading Section Four: Staying The Course.

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Section One: Getting Started

Section Two: Moving Beyond The Basics

Section Three: Preparing For Freedom

Section Four: Staying The Course

Section Five: Planning For The Future

3 thoughts on “Debt Reduction Guide: Staying The Course

  1. Great advice. I have just reached my first debt reduction milestone and it is my birthday soon. We have decided to go and see a film and possibly have a meal out – letting the children stay with their grandparents for the evening. It will be a great treat and will not break the bank and we can celebrate the two occasions at once.

  2. I agree that getting a second job can make a huge difference. Once you get intense about paying off debt, you can do so much with every extra bit you bring in. I think online work opportunities are great for the flexibility they offer. Online writing is a growing field with lots of promise.

  3. I only have two cards (MC and Visa) and will reach our first reduction for the MC by August 2008. I used our $1,200 rebate and continued to make $350 payments, even though they only wanted $60 each month. I had a 3.99% interest rate for one year which will end in September 2008. I plan to pay it off one month early (hence the August deadline) so they don’t catch me with some sort of fee, because I’m sure they will find one to tack on to my bill.

    Unfortunately, the Visa will take a bit longer – several years, but I’m on a mission to be cc debt free in a couple of years.

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