9 Steps to Get Out of Debt - Part 1

Today, the debt has become a standard part of life. It comes in many forms, including student loans, medical bills, auto loans, unpaid utilities, mortgages, money borrowed from friends and relatives, store credit, and the most dreaded of them all, credit card debt. It's part of life for almost all of us, rich or poor, but it need not be. In this nine part series of articles, you will learn the steps to take to become completely debt-free and stay debt-free.

Let me start with the words, not all debt is necessarily bad. It can be very useful to borrow money sometimes, if done for the right reasons. For example, taking out a mortgage to buy even a modest home will probably cost you several hundred thousand dollars over the life of the loan, but you get the capital and the house will usually appreciate in value, which is the better choice UPUN cases than living in an apartment. Another example would be borrowing money for college to acquire a higher paying job, or borrowing money to start a business. Other times it is only the UN can be avoided, such as health or job loss. They key is to borrow for the right reasons.

The problem is, they often borrow money for the wrong reasons. This includes taking out auto loans for nicer cars than we really need, rather than saving money for less coverage for emergencies that come up as the main break, and of course, buy with credit cards, you do not have money to buy them.

The problem really has gotten out of control in recent desetljeća.Prosječni American household owes about $ 19,000 in non-mortgage debt, including about $ 7,500 in credit card debt. When you compare that with the average household income of $ 43,500, you can see the average American household owes 43% of their annual wages in the non-mortgage debt.

As you can see, if you're in debt, you're not alone. No matter what kind of debt you have, or how, your life will be less stressful and more fruitful if it is eliminated. This nine-part series will walk you through each of the steps that will help you eliminate your debt. It will certainly take some work on your behalf, but if you stick with it, you can succeed and the benefits will be well worth doing.