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Here鈥檚 a bit of a 鈥渄ebt strategy鈥?that seems to really work. It will shave tons of time off your debt repayment and will get you out of debt faster and will also create a great habit for savings and building up assets.

Let鈥檚 use this as our example of someone鈥檚 debts:

VISA: $2000 鈥?Minimum monthly payment $50

Master card: $5000 鈥?Minimum monthly payment $125

Loan: $15,000 鈥?Monthly Payment $400

Mortgage: $50,000 鈥?Monthly payment $400

Step 1: Check you鈥檙e your debts for ways to shave costs.

One area people often overlook on their debts is the insurance they have on them. Instead of having separate insurance on all your debts, take a look at an individual insurance policy covering all of them in one. You鈥檒l likely save a good chunk of money each month on that alone. Furthermore, sometimes the insurance you are paying for is worked into the loan amount, so you are paying interest on the insurance payments as well. There are many different reasons for changing from creditor insurance to personal insurance but that鈥檚 a whole other story. See if there are any other options in your debts that you are paying for that you don鈥檛 need as well.

Step 2: Analyze your budget and free up a little extra money.

That鈥檚 right, the dreaded word 鈥渂udget鈥? You don鈥檛 need to analyze every penny, just find some ways to maybe free up an extra $50 or $100 a month. Chances are if you are reading this your debt situation is enough of a concern that making a few simple changes like going out for beer one night less a month or brown bagging lunch 2 or 3 of 5 days a week instead of eating out every day, or making your own coffee at home instead of those $4 latte鈥檚 every morning, is something to seriously consider. The more you can free up the better, but don鈥檛 think you have to completely change your lifestyle to do it.

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I need Help please!!?

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