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The Shocking Truth About Debt Relief Advertisements
Category: FinanceIf you ever turn on the television, radio, or computer, there’s no doubt you’ve been inundated with guaranteed methods of debt relief.
According to many of these ads, you can be out of debt in a year or two, without changing your payments, or by paying less every month!
Or, even better, you can get your tax return early, and use that to pay off your debt. But why not just go shopping with it instead?
You can buy what you need (want?) with that “free money” and not go further into debt, right? Um…right. And there’s the issue with these ideas.
There are some big problems with many methods of debt relief you hear advertised. The biggest problem is that they’re trying to put a financial band-aid on a behavioral broken limb.
When you simply throw money at debt without a very specific plan to change your spending patterns, you are practically guaranteeing that you’ll be back in the same place - or a worse one! - in a few years, or less.
This will probably be the case whether you’re using a home equity loan to cover consumer debt, using a credit counseling service, or buying into late-night infomercial debt relief packets.
So, if these “guaranteed” methods won’t help you get out of debt, what will? A plan. A very specific plan, aimed at altering your behavior while you tackle your debt. Frankly, it comes down to hard work.
It was easy to get into debt, if you don’t count ignoring that little voice that was questioning you when you let it, but unfortunately, it’s not quite so easy to get out of debt.
There are several things that are going to help you with your debt relief:
*Budget, budget, budget! This doesn’t mean, write down what you’re spending on bills with a huge “Miscellaneous” category added at the end. Budget every penny you earn, and tell it where it’s going BEFORE YOU SPEND IT.
*Use cash. You cannot spend what you don’t have if you’re only using cash. If you’re not ready to cut up and throw away your credit cards, freeze them in ice, or lock them away. Use cash.
*Find a support group. Being with like-minded people will make your debt relief that much easier and faster.
Join our free support community for people who are working to get out of debt at Debt Free Weirdos It’s weird to be Debt Free, start being weird today!
Tags: debt relief