Secret Weapon of Creditors
by: MichaelKlein on Tue, 11 Mar 2008 at: 1:05 PM Go to: Previous Article Next Article
It is amazing to me so many individuals get into unmovable debt, but do not comprehend how they get in so deeply. The stories are all the same, even though the people are different.
Does it really matter why or how you are in debt? No. Not really, but you need to ask yourself the question. What have you learned about debt and how to get out of it. If you've learned nothing, then this article is for you.
What creditors don't want you to know? This will be a mind blower to many of you, but creditors want you to manage your debt. Yep, that's right. They want you to pay that minimum payment as long as you can and just forget about that balance.
Understand this truth: Creditors are playing for the long term payoff. Just like casinos, they know if you play long enough the house always wins. Think about it an average home-owner in America will pay three times the purchase price of their home by the time it's paid off.
Have you signed a peace treaty with your debt? You must break the peace treaty and begin to fight. Your financial future is at stake. If you want to win the war on your debt, you must have a strategy of attack.
Debt understands it is at war with you, and it will do everything under the law to destroy you. When you recognize this truth and arm yourself with understanding only then will you be able to ward off its advances.
The secret weapon of debt. Interest is the secret weapon debt holds on us all. Ask yourself why you only make one payment on your debts per month? Surly it would be smarter to make many payments. However, we get our bills in the mail only once per month so that is when we pay.
I know what you are thinking. "Of course I would like to make double payments, but I don't have the money to do that. Aren't you listening to anything I've been telling you!! I'm in DEBT. I can't make any more payments!"
I can understand your pain as President Clinton would say. But listen you can make extra payments. If you make your car payment once a month every month then you are following the plan your debt has laid out for you. Does that make any sense to follow the plan of your enemy?
Hopefully you are connecting the dots. Take one of your debts as a for instance. Instead of making one big payment, take the same amount of money and divide it up and use it to make multiple payments. You are attacking your debts interest!
I bet you didn't know that little truth. However, why would you know? The creditors sure aren't putting out books on how to defeat their secret weapon. This is just a very easy example of how you can start to attack your debt.
About the Author
author Micahel Klein can help you get out of debt. Go to EsuperFind Financial and get a FREE debt report and start living your life again debt free.
OUTSIDE RESOURCES TRACKBACKS
http://investment-blog.net/as-always-i-am-neither-a-bull-nor-bear-just-an-investor-in-the-market/
http://zachstocks.com/2009/05/swi/
http://www.cleardebt.co.uk/news/homeowners-urged-to-seek-debt_4198.php
http://www.themispricing.com/2009/finances/an-introduction-to-debt-consolidation-loans/
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