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Becoming Debt Free
Career & Finance: Debt Management

Why do you want to do this?

I want to feel free. We have been living paycheck to paycheck for years now. Now with kids responsibility i want to be a better parent and do something good from my side in building for their secure future.

What three things will you need to make this happen?

Stop spending more than i am earning.

try to control him on unnecessary expenses. also pay all the bills so that i can start saving more.

Start saving monthly.

What is the biggest barrier to your achieving this?

credit card debt. have to come out of it then only i will be able to save more.

5/27/2011 8:46:21 AM

This is such a fantastic goal to be working on.  Congratulations on taking the first step toward greater financial responsibility by posting this goal.  Overcoming my consumer debt challenge was probably one of the most difficult I've faced. A method called the 'Snowball Plan' really helped.  Maybe you'll be able to find some tips that will help you with your goal too.  There's also a story about how I overcame this challenge on my portfolio page.   Have you sat down to organize the credit card bills?  This was a scary step for me but once I got a handle on it, I knew what I was facing and felt relief.  

Here's a link to the article that explains the method:  

http://www.daveramsey.com/article/get-out-of-debt-with-the-debt-snowball-plan/lifeandmoney_debt/

5/29/2011 11:52:32 PM

 Thanks so much for the support..! i will go through the article now..! so are you also working on the same goal..!

5/30/2011 4:46:17 PM

You're more than welcome Orchid.  What a beautiful name and picture.  To answer your question, becoming debt free is a demon I've faced previously and I'm so happy to say that it's one that I've slayed.  Here's the link to my story about how I managed to climb out from under $33,000 worth of consumer debt.  I hope you'll leave a note with your thoughts and if any of the method will help you too.  Wishing you the best.

http://www.mylifelist.org/experiences/experience.aspx?ID=915

6/1/2011 3:00:43 AM

 Thanks Andrea for this inspiring story..! Will try to follow and get a break through soon..! :) 

6/2/2011 7:50:30 AM

Sure thing.  How are things going with the barriers you've mentioned?

8/5/2011 2:17:44 PM

I am new here and this is such a relief to know that I am not alone. I am also using the dave ramsey method but any suggestions will be appreciated.

8/5/2011 8:48:20 PM

Hello FortunateLady and welcome to this amazing site.  I went to your page to see if I could leave you a note.  Once you make some goals public, we can leave messages for you too.   The link to my story about how I managed to climb out from under some serious consumer debt is above.  I hope you're able to find something helpful or useful. Very much looking forward to following your journey as well and wishing both of you the very best. One thing that made a huge difference was getting my partner on board. Have you had any discussions with your partners about your financial goals?  Here's the link again:  http://www.mylifelist.org/experiences/experience.aspx?ID=915

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