Sometimes credit can?

Have you ever been in that position where you get bills in the mail or online and it seems like they just keep coming? One credit card after another, one utility after another! It seems to have no end. Every paycheck is a struggle.

Well, there are some things you can do for yourself that can help. There’s one book in particular called “Rich Dad Poor Dad” and it was written by a guy who not only wrote it but did everything he teaches himself, he’s basically become the rich dad and the proof is in everything. he does and writes. But besides what he has to say, there are many things you can do for yourself even before you borrow the book. And in case you want to buy the book, I suggest you check it out. You can even check out Amazon Books and compare.

In any case, one of the best things you can do is freeze your debt (especially cards) and freeze what you’re doing. The best way to get out of a hole is to first stop digging. Once you stop the credit, go one step further and get rid of the interest. You can use the great deals from the top players to your advantage. And without a doubt you will be able to save x number of dollars per month. Every time you condense all the payments into one, you always end up paying less for the minimum. But DON’T let this fool you! Just because you have a lower payment doesn’t mean you’re clean. You must remember to accept a good credit card offer and get things done. Use the difference between what you were paying and the new minimum to pay off the extra principle. So for example, let’s say you had a retail card, 2 credit cards, and a personal loan. In order of total due, say: 2,500, 2,500, 5,000, and 10,000. Payments may look like this:

2500 at 19% could be around 58/month 40 goes to interest

2500 at 17% could be around 56/month 38 goes to interest

5000 at 10% could be around 75/month 45 goes to interest

10000 at 8% could be around 225/month 60 goes to interest

so the total would have been $414/month leaving with 183/month paid in interest.

Now let’s say you transfer all this to an introductory offer with a major credit card. Now you have all 20000 with one card. Payments could look like this:

20,000 at 0% could be around 360/month with nothing going to matter.

So now you have an extra $54 a month plus what you were spending on interest. So you take the extra 54 and add it to the payment every month. A year from now you have 237/month x 12 months = $2844 extra paid on your debt! That’s pretty close to the first card amount of 2,500. And think, this is only the first year.

So, in the end, it doesn’t matter if you have bad credit, no credit, good credit, business credit, or you’re just a student. There is a way to enjoy great rewards by using your own willpower as a starting tool.

Well, I hope this article helps anyone trying to make a difference in their fight to beat the interest monster.