Get Out of Debt Fast

By RAMSESVII

If you stop and really think about it, you could say that just about everybody has been in debt at some time or other in their lives. The problems that arise with this can either be negligible or so large as to take away your peace of mind.

In the end however, it is how we deal with the fact that we are debt, which matters the most. Since you are reading this book on how to get out of debt, I shall assume that you are in these circumstances where, somehow or other, you have managed to get into debt.

Now, whether it is debt that is easily payable, or something which you know will take you some time to pay off, is another matter entirely. If you are at a point where the only thing resounding in your head is your debt problems, then there is a good chance that you are somewhat in over your head.

However, none of that matters right now. What matters right now, is how best for you to get out of your debt problems and what you can do stay debt free.

This is where I come in. Having experienced firsthand what it can be like to be mired in debt, and up to my neck in financial difficulties, I have decided to put my past experiences to good use and put everything down in one place so that other people can also benefit from it.

So the first thing that I feel I should perhaps mention to you, is the fact that I am not anyone in particular, nor do I have anything to with financial institutions or the like. I'm an ordinary everyday kind of person, who just happened to find myself in debt up to my eyeballs, and in many deep troubles because of an unfortunate tendency on my part to spend indiscriminately and not keep to any kind of budget.

Alright, so not much has changed over the years, I still spend indiscriminately sometimes, and I'm still not very good at keeping to a budget. But the truth of the matter is that with the problems I had to face a few years ago, I have wizened up some, and now I know when to say 'No' to those things which I don't really need and which will only take up space in my home.

And although it's true that I don't keep a budget as such, it's also true that I don't use my credit cards either. They're merely there as emergency funds, and to help me keep my good credit rating.

And this is where all my experiences have come in handy. It is because I went through my terrible financial woes that I am now able to live as I do – within my means, and still able to live a decent happy life.

The trouble for most of us, I believe, comes when we think that we really do need all those gadgets and things to make our lives easier and that we just can't do without them.

These are the penalties we get for living in these times and although, yes there are many things out there which could make our lives that much easier, it's also true that we could do without many of these things, and still manage to live a happy life.

Just think about it, do you really need to have that signature cup of Starbucks coffee in your hand every morning to 'wake' you up before you go to your office? Do you really need to have freshly bottled water with you every day? And what about the pasta salad that is to-die-for at the little deli around the corner – do you really need that?

Do you need a blender and a juicer and a grinder? If you don't cook most of your meals what are these even doing in your kitchen? And if you prefer Starbucks coffee over your home brewed variety, then why do you have one of those fancy coffee-grinder-cum-percolator machines?

And let's not get started on that juicer you use only once a month because you normally visit the juice bar with your friends; or that bread maker which is sitting so cold and alone in your kitchen cupboard because the best bread that you have every tasted came from the bakery down the block?

 

 

 

• Language: English
• Publisher: Ricardo Ripoll
• Release date: Feb 14, 2024
• ISBN: 9798224732944

Book preview

Get Out of Debt Fast

RAMSESVII

Published by Ricardo Ripoll, 2024.

While every precaution has been taken in the preparation of this book, the publisher assumes no responsibility for errors or omissions, or for damages resulting from the use of the information contained herein.

GET OUT OF DEBT FAST

First edition. February 14, 2024.

Copyright © 2024 RAMSESVII.

ISBN: 979-8224732944

Written by RAMSESVII.

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Table of Contents

Forward

It will be difficult

Introduction

You and debt

Face the music

How did this happen

The why’s of mounting debt

You overspend on your credit cards

You don’t know how to budget

You’re a shopaholic

You were going through an emotional rough patch

Your life is in an upheaval

You have recently lost your job

You didn’t know the value of having good credit

You overstepped the limit once and your debts have avalanched

Life throws you more than one curveball

You really have to want it

Don’t be ashamed – you’re not alone

Set your priorities

No problem too large

Deal with your debts

Develop a debt repayment plan

What you need to do

Whom do you owe

Don’t ignore your debts

How much do you owe

Debt calculators

How much can you feasibly pay each month

Payment options

Scenario A

Scenario B

Scenario C

Snowball your debt repayments

Snowballing payment

Scenario D

Scenario E

Note to self

Talk with your creditors

Debt collectors

Debt consolidation

To consolidate or not to consolidate

What to lookout for

Is bankruptcy an option?

Bankruptcy

You and your family

Small things which help

Practicing economy in your life

Things you already know about

Shopping

Food and you

Kids

Technology

Sundries

Get a better job

Forward

Being in debt is not something that any of us envision will happen to us when we grow up. But the sad fact of the matter is that with the advent of the credit card more of us are in debt nowadays than ever before – and we don’t even think twice about it, that is, until we get into trouble.

We are most of us up to our necks in credit card debt if nothing else, and we happily go along with it because it is now in our culture and we are used to the idea that we might owe some large anonymous entity, money.  What before would have made our parents and grandparents cringe at, we take for granted, forgetting conveniently the fact that we are indeed using someone else’s money.

Now, this can’t really be good, but it is nevertheless a fact of life. And until the time comes when you have financial trouble in keeping up the payments you owe on your debts, you think that everything is just perfect.

But then the unthinkable happens and you find yourself missing first one payment on one of your debts – because, yes, that’s right, we’re not in hoc to only one debtor, but to many – and then you find that you are unable to keep up with next month’s payments on a couple more debts and before you know it, trouble comes knocking on your door.

And this is where things start to get really scary, because unfortunately for most of us, this is the time when we truly realize to what extent we have allowed ourselves to go, to what extent we have put ourselves into debt, sometimes for things that we didn’t even need.

This is really what this book is about. Helping you to get out of debt, and stay out of debt.

It will be difficult

I have to warn you that it will take some time for you to get all the threads of your life back together again in a way that you can be comfortable with it, and it will take some hard work and dedication on your part to make it happen.

But if you are willing to do so, and if you truly want to stay debt free, then you will find that, although you might not be able to get your former carefree lifestyle back, you can still have a good life with just about all of the trappings that you want.

Naturally enough, a few things must be sacrificed in order for you to remain debt free, but the way I see it, this is incentive for you to work harder to achieve your dreams and your goals.

And at the end of it all, you will have the satisfaction of knowing that if at all, you owe only the minimum amount of money, and that you are not making some other person rich in the process of you enjoying your own life.

Introduction

If you stop and really think about it, you could say that just about everybody has been in debt at some time or other in their lives. The problems that arise with this can either be negligible or so large as to take away your peace of mind.

In the end however, it is how we deal with the fact that we are debt, which matters the most. Since you are reading this book on how to get out of debt, I shall assume that you are in these circumstances where, somehow or other, you have managed to get into debt.

Now, whether it is debt that is easily payable, or something which you know will take you some time to pay off, is another matter entirely. If you are at a point where the only thing resounding in your head is your debt problems, then there is a good chance that you are somewhat in over your head.

However, none of that matters right now. What matters right now, is how best for you to get out of your debt problems and what you can do stay debt free.

This is where I come in. Having experienced firsthand what it can be like to be mired in debt, and up to my neck in financial difficulties, I have decided to put my past experiences to good use and put everything down in one place so that other people can also