"Any society that would give up a little liberty to gain a little security will deserve neither and lose both." ~ Benjamin Franklin

Financially Set for 2008?

>> Tuesday, January 29, 2008

There seems to be a lot of fear and panic in the media about 2008 being a bad year, financially, for many people. This really bothers me as 2008 has barely begun the media seems to breed fear and doom like rabbits breed, well, rabbits.

I’m really not too worried about our financial situation. I am working on reducing our debt and paying off the few annoying credit cards we do have. I actually sat down and figured out that if we actually work at our debt reduction (instead of just playing at reducing it) we could have no debt, other than our house) by the end of the year.

I was telling Doug that we would be able to destroy all of our credit cards. “But we need at least one”, he tells me. Hopefully I can get him to change his mindset, but if I can’t you can bet I will compare credit cards to get the very best rate.

I will be working quite hard to make sure my plans follow the path I have laid out. If I have my way we won’t need to look for any secured loans in the future.

While I was clicking through BeatThatQuote.com I noticed they have a "debt help" section. I kind of dig this: Their GOOD (Get Out Of Debt) steps to financial RECOVERY-
R: responsibility is yours so accept it
E: extent of debt you are in
C: create ways to increase your income
O: obliterate or reduce none essential spending
V: verify which debts require immediate action
E: embark on short-term repayment negotiations
R: reassess your debt situation for the long-term
Y: you are in control

Good advice. You can check out more from BeatThatQuote.com if you click here.


This Journey 8:33 PM  

Those are great tips, that everyone can use. Being debt free can seem so overwhelming, but with work it can happen.
Thanks for the link.

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