Kairon - Five Debt elimination tips:-
1. Don’t get into debt. Use cash for all your purchases and don’t take on any debt except home and auto.
2. Spend less than you earn.
3. When debt is closed out, put 60% in savings and enjoy the remain 40%.
4. Take stock of all your liabilities, so you know exactly how much you owe to the world. Put them in a spreadsheet, with monthly payments, interest amounts, balances, and a running grand total of all your balances. Update it monthly as you pay off debt, and watch the overall amount go down slowly. It’s very motivational.
5. Have only one credit card with a low limit, and only one loan with monthly payment not exceeding 25% of income.

http://www.debtmanagers.ca/

amanda (Guest) - There si no need to feel ashamed if you need help handeling your debt. Now is the time to get help. Creditors are more than willing to settle people's debts, but it takes the right knowledge of how debt negotiation works. There is a wealth of information about the processes of debt negotiation, bankruptcy, fixing your credit, and much more at www.credit-advisors.com

kenyantykooon (Guest) - this is a really nice post but i think that the last point should have been the first as it all begins with a sound money education and a good mentality with cash, particularly for young people who tend to be confused when they come into a steady cash flow from a job or business or something