I think to get out of debit ain’t easy but there’s many formula to get rid of it. This is one of the article on how to get out of debit I found. It give 7 steps to get out of debt
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#1 Start working with the credit card companies – When I say this, I don’t literally mean work for them, but rather call them up, and ask them to cut your interest rate down. Even if they cut it down by 1%, this can save you hundreds, if not thousands. A simple phone call can save you, trust me.
// It is important to know about your card. Get advice from credit card companies and you can save more money.
#2 Get on a budget – If you don’t know where your money is going month to month, I want you to start a budget right now. What you’re going to want to do is write down every bill that you’re paying on a monthly basis. Whatever you have left over at the end of the month, put it toward debt!
// Start a budget is the must task. Planning and put all your receipt on the safest place. Make sure you put a pen and check all your expenses every day,
#3 Cut back on things – You don’t need Starbucks, you don’t need 800 cable channels, and you don’t need a gardener to pick your weeds. Do you get my point here? Get rid of the luxuries that you can’t afford. This isn’t about image anymore.
// It is important to throw away waste need. Why you want to have cable channels if you can entertain yourself by internet access? Or you can do some exercise or do social work.
#4 It’s garage sale time – If you’re going to get rid of debt, you need money. One of the easiest ways to make some side cash is by selling things on eBay, as well as a garage sale. Post an ad and see what kind of response that you can get. Promise yourself that you’re going to put all of that money toward your debts.
// Okay. My country don’t really familiar with garage sale in the house but we can do it using website such as eBay. There’s many thing in our house that can be sold via eBay.
#5 Get non-profit help – If you’re going to get help, go with a non-profit company. Sure, you can find these companies online, but you can also find them at your local church, and some organizations. Check with the BBB to ensure that they do mean business. These companies can help you tremendously.
// In my country there’s a non profit organization that can help us to learn about financial.
#6 Negotiate your bills – Credit card companies will negotiate with you when it comes to your bill. The only way they will do this sometimes is when you have a lump sum of cash. For example, if you have a $6,000 bill, they may settle for $3,800 in cash. If you’re going to go this route, make sure that you get everything in writing!
// Hm.. it is great but I don’t really like this steps.
#7 Money = Getting rid of debt – There isn’t any magical formula, there isn’t a tree out there, nor is there a book online that’s going to give you money. You have to go out there and earn it on your own. I don’t care how you make it (I hope it’s legally). Working hard is going to get rid of your debts. You just want to keep this in the back of your mind.
// I agree. There’s ain’t easy way to get money. Beware of the scam that want to steal our money. Working hard and you will get reward.
SOurce :- Investinternals.com
Hopefully this article could help us to get rid of debit. If you have any additional formula, let’s share with us.
the // is my opinion.