Anybody here who've been into debt trouble? How did you manage to get out? Please share your ideas.

Im in a financial situation before. I manage my money by investing in food business but luckily it survive. It takes a tons of effort to survive debt and business.

Dont waste your money on nonsense things. the way of life right now is not easy. There is a big financial debt that is happening in America. Its better to save for your future and put it first in a bank before investing it.

Start saving at least 10 percent of your salary everymonth. It will help you in the future.

I am currently in financial debt right now, and still trying to figure out how to get out of it. I guess the first step would be to set aside a portion of your salary every month to paying off your debts so they don't accumulate. As for the 2nd step and onwards, I still have no idea how to go about it

We are on a global financial crisis as of these moment. If you have a job then your one lucky guy. Yes its better to pay first your debts before going or spend it to another thing.

DEBT, WHAT IS THAT?????!!!!!

To anyone that is interested. . .

I purchased the John Cummuta "Turning Debt in Wealth" series. It REALLY WORKS as long as you are serious. The cost was over $300 and at the time I was thinking "so I spend another $300 on top of my already existing pile of debt." I'm glad I did. The audio series really brings things to light as far as your unrecognized unnecessary spending. It has become so simple for me to just not spend! It also comes with a pretty hefty manual with reading materials and the down-loadable software. You must be willing to put some time and effort into your planning but you will see results. This mans series is no joke!

I haven't given much thought to this but if anyone is interested in a copy of this material I can see if the material is not copyright protected I'm sure I can copy it for a small fee.

Buy things that are necessary to you and what you need. Keep buying things that you want and no use in the long run.

james555 - 18 February 2009 08:07 PM

Buy things that are necessary to you and what you need. Keep buying things that you want and no use in the long run.

This is especially true in this economy. Best practice is to buy necessities and limit or eliminate the things you want, to be able to have some control over being in debt. If you are in debt why dig a deeper hole.

I used a program once that helped me get out of debt. You write down every single bill that you owe. Organize them top to bottom from the largest to smallest. For each bill you owe you figure out what the required minimum payment is. Then each month you pay the minimum required on each one but on the smallest debt you pay as much as you can. After you pay your first small debt off, the next debt on your list will become your small debt. It won't take many months of doing this and you will have all of your small debts paid off and more of your money can go towards your larger debt. It worked for me. When I find myself getting in debt again (stupid me!), I always fall back on this simple system. I found companies are usually willing to work with you if they see you are making an effort and some times credit card companies will give you a better rate if you ask and then make sure they get paid on time.