Yes, You Can Get Out of Debt!

You can get out of debt, no matter how far in the hole you may be. Thousands of people do it every day. Even if you have dozens of credit cards that are all maxed out, a handful of personal loans that haven't been paid in months, several really expensive car loans, a student loan, and a mortgage, you can reduce and eliminate your debt much quicker than you may have ever imagined.

You don't even need to take out a consolidation loan or negotiate lower balances on your outstanding accounts to get out of debt (although you can certainly do this if you want, to save yourself some money). You also don't have to cut back on your spending or make any other sacrifices that you find unpleasant (though cutting back on your spending can help you in many ways, if you choose to do so). In fact, you don't have to make any changes in your lifestyle at all! There's a very unique and unexpected method you can start to use today that will have you out of debt in no time! Here's how to do it:

1. Get out all of your bills for your outstanding accounts and put them in order from smallest amount of money owed to most money owed.

2. Figure out the minimum monthly payment on each one. You're probably already paying the minimum on a lot of these. If you can't afford to pay the minimum each month on every bill, negotiate with your creditors to get a lower minimum monthly payment.

3. Start paying the minimum monthly payment on each bill.

4. Take the smallest bill and add however much extra money you can to the minimum amount each month. For example, if your smallest bill has a minimum monthly payment of $15 and you feel like you can add an additional $10 to that, then start sending $25 a month to that creditor. Just keep paying the minimum on everything else for the time being.

5. Once the smallest bill is paid off, take the amount you were sending to it each month (which would be $25 a month in the example above) and add it to the minimum monthly payment of the next smallest bill in line. If your minimum on the next bill is $20 a month, add the $25 a month from the previous bill to it, for a total of $45 a month.

6. Keep doing this with all of your bills, paying off one, then adding the amount you were paying each month on it to the minimum monthly payment of the next bill in line, all the way up to your largest bill--your mortgage.

In this manner, you can get out of debt in as little as 5 years in many cases, including your house! That's real financial freedom!

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