Debt Free Living Blog
Lower Monthly Bills
Debt Management
Get Rid of Debt
Credit Counseling
Money Saving Tips
Grocery Savings
Frugal Recipes
Clothing Closeouts
Gift Ideas
Home Decorating Tips
Low Budget Wedding
Frugal Living
A Frugal Xmas?
Frugal Shopping Tips
Frugal Books
Frugal Vacations
Frugal Family Fun
Family Vacation Ideas
Money Saving Articles
Family Relationships
Work at Home
Contact Us
About Us
Resource Directory
Newsletter Sign Up
Choosing a Charity
Site Map
Legal Disclaimer
Craft Ideas
Coupons - Samples
Build a Website
Tell Your Debt Story
Share Saving Tips
Budget Worksheets

Debt Reduction Made Simple

Debt Reduction Does Not Have to be Complicated.

If you have been maintaining at least the minimum payment on your credit card accounts then the Debt Reduction Made Simple Plan is for you. The plan is based on the proven successful payment roll down method of eliminating debts.

The Debt Reduction Made Simple Plan will:

  • Reduce Stress in your life
  • Provide a consistent payment amount you can live with.
  • Allow your family to become debt free within 2-6 years on average(depending on balance owed), as compared to 20-30 years paying the traditional minimum payment method.
  • Satisfy your obligations to your creditors as agreed and maintain your good credit rating.
  • Once you have met your debt reduction goals, funds can then be used to start building your financial security. You'll be on the road to true financial independence!

Three Simple Steps to Success

I. Make a commitment - No More Debt!

The only way to reduce debt is to stop creating it. The Simple Debt Free Living Plan will give you the tools to stop using those credit cards. You should have only one card for emergency use.

The goal is to structure and analyze your finances until you reach the perfect do-able plan where you can survive on what you actually earn.

If you use all the Debt Free Living strategies together you will be successful.

The main goal here is to live within your means to... eliminate debt to... live debt free. When you can do this you will become financially independent!

II. Know where you stand -
Exactly who and how much do you owe?

Make a list of creditors with name, address, phone, credit card number, expiration date, and security code.

This information will be necessary should you need to contact the company for any reason. You should destroy the actually cards (to reduce temptation) and won’t have access to them for this information.

Pull out all your most recent statements and make a list. Write down the balance owed, interest rate , current minimum payment.

Also, indicate if the interest rate is variable (changes based on the prime rate) or is fixed (will remain the same rate regardless of the prime rate as long as the prime rate does not go above that amount)

If you look at the interest rate on your statement, it may have a V next to the rate which would indicate that it is a variable rate.

If you can’t find the information, call the company and inquire about the interest rate terms on your account. It will be worth the effort as those variable rates will need closer monitoring.

III. Determine your total monthly payment for unsecured debt.

Print this Free Debt Repayment Budget Worksheet to help Calculate your Debt Payments

Add up the current minimum payments due on all your accounts. This total will be your ongoing monthly debt reduction payment.

This ones easy. What are you paying now each month?

This is your Debt Reduction Made Simple payment amount to be entered into your Debt Free Living Household Budget. Each month until your debts are paid in full, you will pay this amount even if the minimum payment amounts decrease.

If for some reason (and in some rare cases this will happen) a payment increases, you will have to adjust that payment accordingly.

As your accounts are paid one by one, you apply the full amount of that payment to another payment.

Within 2-6 years (on average depending on the amount of debt) your debts will be paid.

When you reach your debt reduction goals, you will be free to invest in yourself! You can take these same funds to start building your financial security and independence.

Using the traditional minimum payment method would take the average family 20-30 years to become debt free.

Debt doesn't have to control your life. Click here to learn more.

Of course there are other debt solution strategies and options to reduce or eliminate individual debt.

If you have already fallen behind, are about to “lose the farm”, are facing other debt issues, or just don't feel you are disciplined enough for a self-help plan, then possibly another plan would be more appropriate for your situation.

Here are some helpful resources and must read debt reduction and management guidelines............

Rate Us:

Free Budgeting E-course

Home | Site Map | Household Budgeting | Money Saving Tips Directory | Debt Management
Copyright © 2004 Cheryl Johnson. All Rights Reserved.

Build a Website that Works

Debt Reduction


What's RSS?

Add To Favorites

Click here to start saving with ING DIRECT!

Debt Help

Credit Counseling
Invest In Your Debt
DIY Debt Elimination
Debt Consolidation

Credit Management


Mvelopes Personal
Read BudgetMap Reviews

Save Money Everyday

Grocery Savings
Frugal Recipes

Netflix.com Free Trial

Frugal Living
Home Decorating
Buying a Home
Family Fun
Gift Ideas
Gift Baskets
Energy Costs
Everyday Expenses

Favorite Survey Sites

Free to Join:Opinion OutPost
American Consumer Opinion

footer for debt reduction page