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Happy Valentine’s Day Everyone!

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I’m still on break, but I just wanted to pop in here and wish you all a Happy Valentine’s Day. My husband and I got each other the same thing this year…nothing 🙂 We figure it’s best to keep our money going towards our debt.

I wanted to share with you a postcard from PostSecret. I thought this postcard was really neat. Please click Here to see the card (I’m not sure if it will stay on the PostSecret site for very long).

It has been so weird not writing the past few days. I have two more guest articles to post and then tomorrow I will be back to regular posting. I’ve missed writing about things as they happen so it will be nice to get back in the groove of things.

There’s so much to update you on, and of course tomorrow is a happy day 🙂

Super Simple Method for Debt Reduction

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NCN over at the No Credit Needed Blog dug out from a pile of debt. He now lives debt free and blogs about what he’s learned from being in debt. He’s also the mastermind behind the No Credit Needed Network which I am a part of. A bunch of us have charts over there (bloggers and non-bloggers alike) to keep track of our debt reduction or savings progress. If you get a chance, pay him a visit. There’s good stuff over there.

When Tricia asked for guest posts, I jumped at the chance to contribute to Blogging Away Debt. I’m a big fan of Tricia’s work and I love the fact that she is getting out of debt.

I love simple solutions to complex problems. Here’s my super-simple method for debt reduction.

Stop using your credit cards or borrowing money.

Make all of your minimum payments early or on time.

Pay as much extra towards your debts as you can.

Now, I realize that this sounds “too simple”, but it really does work. Now, as you walk down the path towards debt freedom, you will find yourself learning more advanced techniques for debt repayment. You’ll learn about balance transfers, interest reduction requests, debt snowballs, etc. But if you are just starting out, these three steps will get you out of debt. Here’s why each step is important:

Stop using your credit cards or borrowing money: Unless you stop adding to your debt balances, you cannot get out of debt. Stop using your credit cards and increasing your credit obligations.

Make all all of your minimum payments early or on time: Do not focus on one account to the neglect of your other accounts. Even if you are only “treading water” and not making any real progress, never, ever fail to make your minimum payments.

Pay as much extra towards your debts as you can: Get another job, sell some stuff, get rid of unnecessary expenses. Do what ever it takes to generate additional income and then use that income to pay down your debt.

Thanks NCN for the article! 🙂