Start Getting Out of Debt Starting in the Next 15 Minutes
Let’s face it.
If you are in debt, you are drowning and need emergency action.
Practically everyone in debt sees all their friends in debt and imagines that it is an unfortunate but acceptable situation.
It is not.
Drowning is not acceptable, and it is far worse then merely ‘unfortunate’.
So, what can you do right now to save yourself?
The very first step you can take is an easy and fun one.
Basically, all you need to do it get one new credit card to replace all your current credit cards. Seems weird, doesn’t it. But soon you will understand.
Here’s step one …
Cut up and destroy your credit cards – all of them. Your general cards, gas cards, department store cards, yes, all of them. You cannot solve the problem until you at least first stop the cause. It’s like attempting to quit smoking while you are still smoking or tying to lose weight while you are still overeating. First, you must stop causing the problem. Second you can begin to cure it.
Once the card is gone, then order a new one. This may seem like strange advise, but pay close attention. This time order a prepaid card. You see, these days, a card is actually mandatory for survival. You cannot rent a car or even get into a hotel bedroom without one. You have a problem that you need one but it is the cause of the problem. So, what do you do? You get a prepaid card. It looks and acts exactly like a credit card. And, you cannot be refused one when you apply. Every single application is accepted.
The only difference is that you must first pre-load the card with your own cash. Then, you spend your own cash using your card. You are never declined because it is your own money. There is no risk whatsoever to the card-issuer. Also, it has the educational advantage that it teaches prudence and record-keeping. With a prepaid card, you cannot overdraw. You cannot go deeper into debt. You cannot worsen your situation. That’s the first step. It doesn’t get you out of debt, but it does stop you getting deeper. Stopping the fall is a crucial first step. The second step begins the process of climbing out of debt.
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