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financial and psychological burden of being in debt causes us and our families continuous emotional stress. That stress eats away at the quality of our lives and leaves us feeling powerless Cheap New Balance Shoes Online , angry, depressed and helpless.

But there is a way out ? in fact, there are five simple and straightforward ways out of debt - and if you apply this five point plan to your life today you will have taken the first step on your personal road to debt free living for life.

1) Acquire No New Debt.

You have to make the commitment to yourself and your family that together you will take on no new forms of debt TODAY. Agree from this point forward that you will not take out a loan for a new car Cheap New Balance Shoes China , you will not re-mortgage and cash in your equity to afford home improvements, you will refrain from filling in new credit or store card application forms and you will destroy all those credit and store cards you already have.

Break the pattern of living beyond your means TODAY.

2) Begin To Track Your Money.

Starting right now go and get the paper work for all of your regular bills, any loans Cheap Kids New Balance Shoes , debts, credit card statements etc. and also the details of any income you receive each month from your job, any benefits you get or savings income - and put all of the paperwork on the table in front of you.

Step by step go through each one. List on a piece of paper what you have coming in each month and then list what you have going out each month ? for this one do it in two separate columns?column one should be your essential bills for every day living including your mortgage Cheap Womens New Balance Shoes , electric, water, gas etc. Cheap Mens New Balance Shoes , and column two should be the amount of debt you have. Write down all of the money owed on each credit card, any loan amounts you have outstanding and also detail the minimum and required monthly amounts for each one.

Now you know exactly how much you have to live on, how much you have to pay out each month to live and exactly how much you have to find each month to pay debts.

Every month go through the same process ? once you have this whole five point plan in place you will notice that the amounts you owe will reduce each month and you will find it easier to afford your month to month essential living expenses. If you don't keep a track of what you spend it has been proven that you will spend up to 10% more than you can actually afford each month so your debt will grow and grow and grow exponentially forever unless you break the pattern TODAY.

3) Negotiate Better Interest Rates And Better Payment Terms.

Step 2 should've highlighted the amount you have in debt and the amount you have to pay out each month for each debt. Taking each debt at a time ? and include your mortgage in this ? look at the amount of interest you are paying on every single debt you have and also read contract small print to find out about any penalties you may incur if you pay back loans early.

Find out whether you can re-mortgage (for the same amount NOT to release equity) and take advantage of a lower interest rate and also the ability to pay off lump sums of your mortgage each year. Look at transferring credit cards to those offering lower interest rates and even 0% interest on balance transfers for a fixed period. DO NOT increase your credit limit Cheap New Balance Shoes , DO NOT use this as an excuse to add another credit card to your list! If you do find a company willing to take on your balance transfers cancel all other credit cards immediately you have paid them back. Now find out whether there are any LEGITIMATE loan companies offering lower interest rates than the companies you are already with and consider consolidating these other loans under one with a lower interest rate. Again, DO NOT use this as an excuse to take out yet another loan!

Once you have looked into any of the above ways for reducing your