Credit Card Debt Reduction | Increase cash remove credit card debt save money

About Debt Reduction

Why would you want to reduce your debts by a program of debt reduction?
Put simply the answer is so that you start taking control of your life instead of letting the people you owe money to controlling your life.

Let me ask you a question. Why do you go to work?
If you can say "Because I love working" that's terrific and I'm very happy for you. Most people would say it was to pay the bills. The bigger the bills the more important it is that you go to work to earn the money to pay them.
No one will argue that it's important to get money to pay for food and a roof over your head. Heating, lighting and even your phone are considered essential these days. These are all good reasons to work to earn money but how about going to work to pay for your credit cards? Does that make any sense?

For example. Let's say you earn £2,000 per month after tax. Let's also say that you are paying back £500 per month on your credit cards. That's one whole week each and every month you are working just to pay your credit cards! A quarter of your working hours JUST to pay your credit cards. Think about that.

It's ridiculous isn't it? Even if you still bought all the items that led to that credit card debt using cash it would save you a lot of money that you currently pay in interest charges.

So your aim should be to reduce those credit card debts and any other debts as much as possible so you can use cash for purchases. You will probably also find that you don't spend as much money if you pay cash. We hesitate to hand over real money whereas using a credit card is so easy that we buy things we really don't want. Next...> Getting Control Of Debt