Ainer & Fraker – Follow these steps to pay off debt the smart way:

Bag Unnecessary Items to Reduce Debt Load
Do you really need the 800-channel cable option, or that dish on your roof? You’ll be surprised at what you don’t miss. How about magazine subscriptions? They’re not terribly expensive, but every penny accounts. It’s nice to have a library of books, but consider visiting the public library or half-price bookstores until your debt is under control.

Don’t ever, ever miss a payment
You’re not only retiring debt, but you’re also building a stellar credit rating. If you ever decide to move or buy another car, you’ll want to get the lowest rate possible. A blemish-free payment record will help with that.

Besides, credit card companies can be quick to raise interest rates because of one late payment. A completely missed one is even more serious.

Do Not Increase Debt Load
If you don’t have the cash for it, you probably don’t need it. You’ll feel better about what you do have if you know it’s owned free and clear.

Shop Wisely, and Put the Savings on Your Debt
If your family in large enough to warrant it, invest $30 or $40 and join a store like Sam’s or Costco. And use it. Shop there first, then at the grocery store. Change brands if you have to and swallow your pride: Use coupons religiously. Calculate the money you’re saving and slap in on your debt.

Each of these steps, taken alone, probably doesn’t seem like much, But learn to live this way, adopting as many of them as you can, and you’ll be able to watch your debt decrease every month.

For more information on on getting out of debt, click the following link: Being Smart About Debt.

John Erik Fraker, Esq.

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John Erik Fraker, Esq.

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