Tag Archives: debt

Credit Card Fees-Lead To Staggering Amounts Of Debt

Money is tight for a lot of people, and most of us are forced to live paycheck to paycheck. We also tend to rely on things like credit cards to get us by. This has led to staggering amounts of debt for thousands of people. Credit card debt is one of the primary forms of debt in America because of this. So if you are one of the people in debt, you know how stressful it can be and how much you wish you could claw your way out.

Dealing with all the Credit Card Fees, the endless phone calls from your creditors, the stress of knowing that most of you money is going to just paying off these things, all the while forcing you to continue use them. It is a vicious cycle that can be exceptionally difficult to break.

But while it is difficult to break, it is by no means impossible. In fact there are some fairly simple tips you can use to slowly pull yourself out of the hole of credit card debt.

The first step in getting out of debt is to create a budget. Look at how much money you get every month, then look at how much money you spend every month. If you sit down and look over your expenses, I am sure you will notice a lot of frivolous things that you can cut out to help yourself with those Credit Card Fees. Something as simple as getting a coffee in the morning can really add up. 

If you can cut down these unnecessary expenses, you can then take that extra money and apply it to your debt. It may be tempting to throw it at your largest debt first, but this is the wrong move. We need our little victories, and it is also a snowball effect. So if you have multiple credit cards and are in debt with each, look at the one with the least amount of debt.

If you take that money you are saving and put it all towards paying off the lowest credit card, you can make some serious progress and actually pay it off quite quickly. This will give you that victory you need, it will boost your morale as you can see you really can claw your way out.

But that is only the beginning. From there you will want to apply, not only the money you had been saving by cutting back on unnecessary expenses, but also the money you are saving by not having to make payments on that credit card. Now you will have a lot more money every month that you can apply to the next lowest debt.

It is a rinse and repeat process from here on out. You just take the money you save by paying off a card and apply it to the next highest one. It will take a long time to knock out those Credit Card Fees if you are deep in debt, and you may need to do some extra work to get there. But by utilizing this method you can make some serious headway in your fight against your debt.

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Maxwell Jacobs is the Owner of <a href="http://SolutionsforHomeProfits.com">http://SolutionsforHomeProfits.com</a>. Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter. Also, check out Paid Social Media Jobs ->  http://www.SolutionsforHomeProfits.com/?rd=mx7GuYUZ

Heiko Closhen, Entrepreneur

What do You, Bill Gates, Warren Buffet, and Bono have in common?

It's easy to tell you what you likely DON'T have in common with them – fame, fortune, and good looks

…Okay, Fame and fortune… 

… but here's what you DO have in common with Bill, Warren, and Bono.

24 hours in a day, and a sphere of influence.  

The same thing every human on the planet gets.

It's what you do with those 24 hours, and that sphere of influence that matters.

As a leader, or an aspiring leader, we study successful people and look to emulate them.  Too often however, we limit our perspective of what makes them successful to money, position, titles and influence.

"Work hard and get rich" are goals that will leave you empty.  How will you know you've arrived?

Each of these people are highly successful in what they do, have earned a great deal of money in the process, but have followed their passions and have individually committed to using their resources to make a difference in this world.

Dan Pink, in his latest book Drive:The Surprising Truth About What Motivates Us highlights the research that shows that in cognitive based tasks, money is a poor motivator for increased performance.  What does drive performance (or results) is the amount of Autonomy ( the desire to direct our own lives), Mastery (the urge to get better and better at something that matters), and Purpose (the yearning to do what we do in the service of something larger than ourselves) we have in our careers and lives. (If you would prefer the animated version of the book, check out RSA Animate's treatment of the book below or at the link here)

What do You, Bill Gates, Warren Buffet, and Bono have in common?

Which gets me back to the things you have in common with Bill, Warren and Bono.

Each of these men have, and have had, 24 hour days to accomplish what they did. Just like you do.

Granted, they may have had connections and resources that you don't, but they didn't have any more time than you do.

They also had passion which motivated them. If you look at them now, you will see how their passions now drive actions that are having a profound influence in our world.  These guys are PASSION DRIVEN, and you should be too.  And they are working to something bigger than their careers. They choose to spend their time doing impactful things that align with their passions – both in their career and personal life.

If you are a leader (or want to become one), and can't articulate WHY you are in this career, then perhaps it's time to reconsider. If you are spending 100% of your time, energy and resources on making money, then perhaps it's time to reconsider. 

If you are not impacting your sphere of influence to do something in the service of something larger than yourself, perhaps it's time to reconsider.

Sorry to sound preachy. As always, this blog post is written primarily to myself. Consider this my public journal. If I've given you pause to think today, then it has certainly been worth my time to share… and follow my passion, and leverage my sphere of influence.

So… armed with at least two of the things that have made Bill, Warren and Bono "successful", what are you going to do about it?

My final thought is a quote from Rick Warren, author of The Purpose Driven Life  

"Killing time is suicide".
Rick Warren

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