Declare War on Your Debt TODAY!

Getting out of debt is a tough uphill battle that requires consistency, perseverance, and patience. In many regards, it is similar to losing weight or running a long marathon. First, you need to recognize that NOW is the time to start. Second, decide whether to fight on your own or seek professional assistance.

The Punishment for Excessive Debt

The hazards of not taking matters into your hands can be devastating. Your credit score may suffer severely, debt collectors may start to turn your life into chaos, as well as there is a potential of a lawsuit, garnished wages, foreclosure, or bankruptcy.

The Reward for Getting Out of Debt

When you become debt free, you will feel like a new person. You may have to sacrifice some luxuries for a while, like new cars, designer clothing, or visits to exquisite restaurants, but it won't be forever. When the debt is gone, you will be able to carefully indulge in some luxuries again and trust me it feels “oh so good”.

The Plan

Whether you proceed on your own or consult with a consumer credit counselor, the first thing is to assess your financial situation and make a plan. You need to know how much you are spending versus how much you are making, and determine the monthly disposable income that you can use to pay off debt. Take a pen and paper and list all of your income sources: your salary, investment income, interest income, and anything else that you have. Make a separate list of outgoing expenses: mortgage or rent payments, car loan, credit cards, personal loans, insurance, groceries, utilities, entertainment, and any other miscellaneous expenses. Calculate your disposable income, if any. If you are making less than what you are spending, it's time to take action. You can also use our free online tool to calculate your current payoff date and see ways of paying debt faster.

Options

The options include: contacting your creditors to make new payment arrangements, obtaining a debt consolidation loan, taking a second mortgage, and others. When paying off your debt, you need to decide whether to spread out the money evenly or first pay off the debt with higher interest rates. Consider everything, make a plan and stick to it. Remember: it may take years to get out of debt. The great thing is that every little bit of debt that you pay off, will lift a little more weight off of your shoulders.

Saving Money

If you make some sacrifices you can start spending less.

•  Food - start eating at home and cut down on fast foods. 
• Shelter - downgrade your residence if possible. 
• Utilities - be conservative with gas, electric and water; always unplug appliances that are not in use as electricity may continue to trickle to them. 
• Car - consider getting an older model vehicle or start to carpool.
• Clothing - buy discount clothing and scour your wardrobe for any overlooked clothes. 

Remember, small things add up: $83 a month will add up to $1000 a year. Keep a written budget and maintain a payment calendar to monitor your progress.

Once Out of Debt

Once you get out of debt, continue saving and building your emergency fund. You will be able to relax a little, but make sure you don't sneak back into those old financial habits.

Is Your Money Working For You? Or Working For The Bank?

For centuries banks have used certain core strategies to make their customers "money — your money — work for them." Let's put these strategies to work for you instead of against you! You can with the
ma Capital Resources™ Money Merge Account® program.

This innovative system measures your financial acuity and maps out some of your quickest paths to being debt free. After entering your individual debt obligations, you will receive three values unique to your financial picture:
1. Years to Pay Off
2. Payoff Date
3. Interest Paid

The best part about this "dashboard" is you can speed it up or slow it down. Play it like a game. Tweak the software according to your situation, apply it to your budget, and you'll soon find some of the fastest ways to paying off your debt.

What would you like to have free and clear? Your mortgage, your debts, your kid’s education, your employment, your time? Getting control of your financial situation is the first step to accomplishing your goals and dreams.

Let the award-winning ma Capital Resources™ Money Merge Account® program help you pay off all of your debts in as little as 1/3 to 1/2 the time without refinancing your existing mortgage and without changing your income. Don’t delay, see how much time and money you could potentially save. Get your free report today!

How Prepared Are You For A Financial Emergency?

All my life I've heard financial advisers say that we should always have six months of living expenses in our savings. But in an economy where many of us are working lower-paying jobs (or have no jobs at all), that kind of saving may be unrealistic.

A recent Forbes article says that most Americans don’t have enough savings for a financial emergency.