Skip Navigation
End of Navigation

Debt Reduction

Sometimes, when our debt grows too great, we're led to believe we're simply powerless to halt it. Many feel as if they're forever stuck in a deep hole — one that's impossible to climb out.

Thankfully, this simply isn't true. Positive debt reduction is possible. And by coming here, you've already displayed a willingness to get out of debt. It just takes planning and a little perseverance. That's what we're here to help you work on.

By maintaining an initiative to become debt free and following through, you can surmount your debt problem.

Grade Yourself on Debt Reduction

Here's your new monthly plan: write down each thing you buy in a week. It doesn't have to include every stick of gum, but it should note every lunch out of the office, coffee stop, and dessert snack.

Afterwards, go through them and strike through everything that isn't an absolute necessity. Try and do it with a red pen if possible — it will better illustrate the point. (And despite what many believe, a double latte is not indispensable).

Gas $78.00
Coffee $16.86
Snacks $12.67
Dining Out $45.34
Socializing $38.98
Movies $17.50
TOTAL $209.35

It can all add up pretty quickly, can't it? That's the point of writing down these "fun" expenses. You may not realize just how much money is slipping through your fingers. Now's the time to slam the brakes on these goodies. It's a tough call, we know, but you must start envisioning yourself as debt free. And the road to financial freedom is paved by cutting the excess.

Don't go crazy, however. Like crash dieting and extreme exercise regimens, limiting yourself to nothing but water and day-old bread will quickly have you throwing up your arms and returning to square one. We don't want that.

Moderation is key. A successful debt reduction plan requires that you set realistic and obtainable goals — something that will stick.

A Debt-Free Life Is Possible

Imagine it now: No more harassing debt collection calls. No more feelings of financial worry. But successful debt management requires more than this. It may also require a professional provide you with credit counseling. There are such services available if you feel this is right for you.

Back to top

Start Here!