Pay Off Debt with Extra Money
Are You Living on the edge?
Most people manage their debt pretty well. This is just like I did for most of my life. Trouble is that people are living on the edge without realizing it most of the time. If you have a credit card or two you may be in the habit of paying and spending the money as there is available each month. It all starts by reaching the maximum credit balance on your credit card.
Like the majority; you would more than likely have chosen the option of paying the minimum percentage each month as required on the credit card. For Example: If you have a credit card of $1000 and paid back ten percent each month the payment would be $100 Right?
After the bank charges and interest you may have about $60 left to spend. During the month you may use this for something that needs to be paid or on the spur of the moment resulting in the card being maxed out again. So the cycle continues. That is living on the edge. If you were unable to manage that ten percent payment or whatever it is for one month you would start sinking….
Circumstances that are unforeseen can increase your debt load
As my Murphy’s Law has it; at the worst possible moment something goes wrong during the month and an extra bill crops up. Maybe the car broke down, the dog became ill, the garbage disposal packed up or one of the hundreds of gremlins that strike when you need it the least. Have you got a back stop saved for this? I never did so I would borrow from peter to pay Paul as the need arose. This would result in debt collectors harassing me like crazy and was pretty stressful. This starts the dangerous spiral down into the pit of no return debt. It gets worse until you reach a point where your debt cannot be serviced anymore and then the wolves come.
You have to stop it right now. Tighten the belt and get out the scissors to cut up a credit card today. Once you have got used to living without it then you are on the road to rehabilitation. Your freedom starts here. Try earn extra money where ever you can because this will hasten your road to freedom. Here is a stunning online business opportunity that is helping me. Click Here
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