An Expression of Myself

Break free from personal debt

Posted on: February 5, 2007


Yesterday when I was reading the Business News from Inquirer.Net I came across to this post regarding on ” How to break free from Personal Debt ” as follows :

INQ7.net
Last updated 08:47am (Mla time) 11/14/2006

DEBT is one of those things in life that can be seen as good or bad. It’s good when it’s used to invest or purchase things that give a higher return than the cost of borrowing (interest). It can be seen in a bad light when it becomes so big and monstrous that you can’t seem to handle it anymore.

The truth is, you have control over the amount of debt you get into. If your debts seem enormous and daunting, try these tips to manage your debt and get out of that rut:

Who among us does not have any debt nor had debt before? I don’t think there is. Well if we are going to check it out. It is really our problem and not anybody’s problem if you are buried with debt. Sometimes we tend to be rich where in fact we are not. Below is an excerpt of their suggestion.

1. Keep control of your cash flow and plan ahead.

2. Avoid making short-term debt a long-term habit.

3. Protect your credit history.

4. Use debt constructively.

5. Evaluate whether you need to go into debt or use cash.

6. Ask if you really need it.

7. Tighten your belt.

8. Grow your income.

All I pray now is that all my credit card debt will be paid with in this year.

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