A Measley $100 a month can Get You Out of Debt
Sallie Roberts February 9th, 2009
This first time I saw a financial adviser give this training I was blown away. I had a home based business and attended this class at one of our conventions. At that time I was in debt to the hilt. I had several credit cards maxed and pretty much had the same mind set as most folks about debt. And that is that it is just normal to be in debt. But after that training I vowed to get on the other side of debt. Today my husband and I own our home free and clear (paid off 15 years early), we were able to buy vacation property and pay cash. We are debt free and thankfully so because our retirement nest egg was cut in half due to the economy.
Don’t get me wrong, I still use credit cards. I love those flying points. I fly free most of the time. I use my credit cards for everything from a pack of gum to a TV. I just bought a 300C Chrysler this year and almost put that on my credit card, but the Car Dealer would have charged me a fee to do it so I paid cash instead.
I have huge limits on my cards because I pay them off at the end of each month. I pay no interest so I really don’t care what their interest rate is, but I don’t get cards with an annual fee. The banks make enough money on what they charge the merchants, they don’t need me paying them annually for the privilege to use their card.
As I work my home business (a network marketing business) I teach people how to use the extra money they make with a home business to do what I did. Of course it takes time depending on how in debt you are, but it is possible to be debt free and pay cash for everything by starting with and extra $100 per month.
Did you know that if you owe just $2500 on a credit card and pay only the minimum payments, it will take you 25 years to pay it off??? Most people owe much more than that so they will never pay it off.
Number one, get a home business going. Your account will tell you that every home in America should have one. You are giving money to the government if you don’t. You are afforded the same tax write offs that big corporation get. I get to that in another blog another day.
So let’s look at what is really happening with your credit cards. I was shocked at this.
Need extra income and tax write offs to accomplish this? Try a home based business
