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Think what you do when you run into debt; you give another power over your liberty. --- Benjamin Franklin |
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Financial Freedom |
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Financial Freedom - Steps you can use to get started now |
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Welcome to Financial Freedom this site is focused on leading you to the right sources to help you on the right path to financial independence. Are you concerned about your finances? Maybe you’re carrying credit card debt, worrying about paying for your children’s college education, or wondering whether you’re investing wisely in your retirement savings plan at work. Are you feeling a bit overwhelmed about your cash flow and expenses? Here you will find solutions to all your financial concerns. If you can take control of your debt you can start on the path to becoming debt free today by following a simple set of rules and by sticking to them. Indeed, by looking closely at your lifestyle choices and personal finances in a new way, you will have an excellent chance of succeeding financially, restoring your credit, as well as building wealth, saving money and succeeding financially.
Six Steps to Financial Independence1. Accept Responsibility Stop blaming others for your current situation 2. Decide to Make a Change You may need to assess your current situation before you finally see that you need to make a change. You might even have to go as far as using 3. Assess Your Current Situation Find out what your current debt situation is. Do you continue to pay month after month and make purchases without having any idea of what's happening with your money? Until you know exactly what comprises your debt, you'll never be able to reduce it to zero. Get a piece of paper and list ALL of your debts, including credit cards, car loans, home loans, etc. Write down the creditors' names, annual percentage rates, outstanding balances due (i.e., remaining balances), and minimum monthly payments due (listed on the monthly credit card statement). Your loan agreements and credit card statements should provide you with most of the information you'll need. Probably the only thing you will not find for credit cards is their Absolute Minimum (i.e., the absolute minimum that your monthly payment will ever be). You can contact the credit card issuer for further information, or just accept the default $15, which is a common amount. This list of creditors/debts will be used when you set up your debt profile in Debt Free USA® . You should also obtain your credit report to see what has been recorded about your credit usage, and to determine whether there are any errors. 4. Make Some Immediate Changes
5. Develop a Repayment Plan Once you have a list of all your creditors and all the information that applies to them, it's now time to develop a plan that will repay them in the shortest amount of time. Debt Free USA® can help you accomplish this. 6. Stick to the Plan Even if you print out the perfect repayment plan, it will do you absolutely no good if you don't stick to it religiously. If you start paying only the minimum monthly payment, or start making large purchases on your cards, you'll slip right back into the debt pit that the creditors have allowed you to dig for yourself. Once again, you will have to make the decision to stick to the plan. Nobody is going to hold your hand or force you to make those payments. |
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[Debt Free] [Balance Transfers] [Prepaid Credit Cards] [Credit Repair] [Site Map] [Resources] |
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Copyright © 2004 http://A1-Financial-Freedom.com |
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