Yes you can get out of debt. It’s hard but not impossible. Unless you suffered from an emergency or sudden crash that quadrupled your living expenses, most debts are caused by a lack of foresight or just plain bad habit of spending that has stacked up to a mountain of bad loans. The way out of it is a matter of behavior, changing the bad habit to good, the discipline to pay it out little by little and forsaking some of life’s joys. Here are some stories to inspire you and tips to help you, people who are like you and me, faced with debt, but managed to reclaim back their life debt-free.
Small can get big
An accountant says you are the biggest obstacle and motivator to get you out of debt. She shows you her step-by-step plan that allowed her to get rid of a $14,000 debt that’s pulling her credit down. The owed money is not much, but the underlying causes of her loan and the tricks to slay the monster could just be as true for people with debts that run in six figures.
Erasing $70k debt in plain language
A runaway debt from student loans and house equity loan is reduced to zero in six years. Marriage can combine bad debts and strain the relationship early on; but the author shows that a couple fighting off debt is just as a stronger reason why marriage is a good thing to pay off loans inherited from singlehood.
Get it from a team of financial experts
Oprah
When Oprah says you can, you better believe it. She, the queen of inspiring real-life stories of people overcoming their problems; although she doesn’t tell a dramatic story here, but a systematic step-by-step action plan dished out by a team of financial experts.
Getting into debt
Give Me Back My Five Bucks
The first step to get out of debt is to understand how you got into it. Bad spending habits and illogical decisions are better seen from a distance. As a Chinese proverb goes—to fight an enemy is to see him first. The author tell you how he incurred debt, and how got out of it.
Yet another couple winning over debt
Nothing is more inspiring than seeing a couple succeed in writing off their debts. It’s more than just a money story; it’s a marriage built on teamwork. The husband and wife who succeed to pay off debt are more likely to have a healthy relationship.
While in debt
Free Money Finance
You can have a good credit while in debt. Creditors are more confident to loan someone who can manage the debt than a newbie who is debt-free, but as well with no track record to show. The author shows how to use your debt to even increase your credit score.
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