Have you ever thought about doing something for the first time knowing it will benefit you and yet you've always given in to procrastination? We've all been guilty of it at one time or another. Why do we still keep doing it? Because we don't want to get out of our comfort zone. Think about it?
We know that every successful endeavor always requires an investment of commitment and action. And that's only the first step. You also have to put in the time! You can't get from point A to the finish line cutting corners. That's a big NO!
For instance, if you want to have lots of money in the bank, wouldn't it be wise to start saving? Put some money aside. Pay yourself first. A friend of mine wanted to know how I was able to pay off my credit card debt. I told him I took the first step in wanting to consciously eliminate my credit card debt. It began with a commitment and an action plan. My wife and I pinpointed which card was charging the highest interest rate. That's where we placed most of our credit card payment budget.
Let me give you an example:
We know that every successful endeavor always requires an investment of commitment and action. And that's only the first step. You also have to put in the time! You can't get from point A to the finish line cutting corners. That's a big NO!
For instance, if you want to have lots of money in the bank, wouldn't it be wise to start saving? Put some money aside. Pay yourself first. A friend of mine wanted to know how I was able to pay off my credit card debt. I told him I took the first step in wanting to consciously eliminate my credit card debt. It began with a commitment and an action plan. My wife and I pinpointed which card was charging the highest interest rate. That's where we placed most of our credit card payment budget.
Let me give you an example:
Let's say you have 10,000 dollars in credit card debt. And every month, you have a total budget of 1,500 to pay the minimum amount required on all your cards plus the principle. What I would suggest you do is to find out the card that has the highest interest rate. Pay all the other cards the required minimum amount and nothing more. If that totals to 800 dollars, you have 700 dollars left to put into that card with the highest interest rate! Once you're done with that credit card, don't use it again! Pay down the card with the next highest interest rate.
You have to do the TIME! Which means you have to be patient. It may take a year or a couple of years to accomplish this endeavor but it can be done and will pay off handsomely.
If you want to learn of other ways to get rid of your credit card debt, do some research online. Bankrate.com offers a variety of ways on how to save money, budget your finances and make money. But you know what? You must take the first step... ASAP!
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