Credit Counselling about Debt Reduction

by: Adam Gilbert


Credit Counselling

Interested in become a credit counsellor and helping free the captives to the salvery of debt - you know - having to go to work to pay the ever increasing spirialing debt. Here is some wisdom to share with your friends: -

Debt Management

A world run on credit is what we are witnessing. The US government took a couple of hundred years to accumulate the first trillion dollars of debt. Now it is only a matter of a few years and another trillion is added to the national debt.

This is a serious issue. It is due to the ‘open circle’ mentality that pervades modern day society. We don’t like limits, restrictions and boundaries. Most people live to the limits not of their income but the limits of their multiple credit cards, their large credit lines on their houses, store cards, car leases, personal loans etc etc...

Being a psychologist I witness this over extension of the limits not only with our money but with our time as well. Generally we are a society where we break our budgets for both time and money which has a devastating effect on our social lives, our family lives and our spiritual and emotional well being.

There is an interesting scripture in Matthew 5 (a chapter in the Bible) and it states that ‘The meek shall inherit the earth’. What does meek mean? It basically means to live within the limits. To schedule what your time with some margin left. To budget with some margin. This means you have some resources not only for your own peace of mind but so you have the time and money to help others.

A Credit counselling debt solution:

Make a list of all debts and list them smallest to largest. Apply 5-10% of household income and then adding that amount to the lowest debt.

Once the debt is paid then take this extra amount as well as the previous minimum payment and apply that to the next debt on the list.

Continue to apply this strategy to every debt on the list.Within 5-9 years you will be able to eliminate every debt including your house mortgage.

The other possibility to is to refinance your smaller debts with the equity from your house or your investment property.

However if you choose to do this then you need to ensure that you take the minimum payment you used to pay on the debt you consolidated and pay that off your mortgage.

You will also need accountability partners so here are a few pages off my site http://www.creditcounselling247.com where you may be able to find someone

So I hope you will join me and become debt free. I want to be totally debt free within the next few years. Why? Well imagine the good we can do if we apply those interest payments that were lining the coffers of the banks and give them to charity (http://www.mannarelief.org - is my faviourite - watch this space for what they are doing with the aids orphans in Uganda!! Or simply check their site out!!)

I have a very successful home business. For people who have found themselves in debt Network Marketing is one of the easiet, most cost effective ways to get involved in business. This is also another way in which you can accelerate your debt reduction is simply to earn more income above your normal current income and apply that not to your lifestyle but to your debt reduction. Check out my new site www.networkmarketingconsultant.com to learn more about this business. Or subscribe to my ezine at http://www.homebasedwellnessbusiness.com/nexttrillion.html to learn about the 5 principles you need to find in a business in order to be successful.

© Wellness Corp Pty Ltd - If you wish to reproduce this article on your site you can do so as long as you include my link to http://www.networkmarketingconsultant.com.

About The Author


Adam Gilbert was able to retire at the age of 31 from full time employment due his success in home based business. He has been actively coaching people to become successful in their own home based businesses. To find out more about his coaching programs go to www.homewellnessbiz.com .