Stop Borrowing
If you want to get out of debt, you have to stop borrowing money. For some of you this might sound blasphemous because the way our culture and generation has been brought up thinking about debt. But I assure you if you are serious about getting out of debt then you can't borrow your way out. No matter how hard you try moving money around doesn't pay it down- you do. If you are digging a hole, you can't dig your way out. The only way out is to climb. So stop digging and start climbing out!
Homework:
This is more of a challenge than an assignment. For one month- Stop using your credit cards. At the beginning of the month or on pay days withdraw enough money to cover the basics- groceries, clothing, a little fun money. Decide how much you need and take only that out. When the money runs out STOP SPENDING. This is why I said be realistic when planning your budget. $100 a month isn't going to feed a family. And if you're single you don't need a $100 monthly clothing budget. I will have a post that will go into more detail of why this really works.
"If you're thinking of debt, that's what you're going to attract" Bob Proctor
"The borrower is servant to the lender" Proverbs 22:7
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