Submit Articles A Collection of Informative and Interesting Articles  

There's a Way Out of Your Debt Problems

BY: mathew jazenko | Category: Finance | Submitted: 2011-10-08 18:16:51
       No Photo
Article Summary: "Facing a mountain of debt? Don't know where to start? Feeling overwhelmed? There is a way out and its a simple process. There is no need to get down and you can get rid of those collection calls at the same time. Stay away from all debt if possible and if not keep it small. Here's how to do it..."

Share with Facebook Share with Linkedin Share with Twitter Share with Pinterest Email this article

Facing a huge mountain of debt? Don't know where to start? There is no need to feel overwhelmed because it is not nearly as big as it first looks. Is there a way out of this mountain of debt? Yes there is and the process is relatively simple.

Start with the smallest debt first. When you start with the smallest mountain first, it gives you a lift and a sense of accomplishment. Then when that mountain is finished your ready to take on the next bigger mountain of debt.

Take Cleopatra and Mark Anthony, who have been married for 10 years came to me with a huge mountain of debt. We started off by tackling the smallest debt first, which was their cell phone bills. This was an astounding $200 and climbing. They managed to get this mountain of debt down by looking at the cell phone package they had and started looking at other less expensive packages from their current provider. They then decided upon a more economical talk and text plan then what they were currently paying. Now they are saving about $10 per month on their cell phone bills, which doesn't seem like much but it all adds up.

If your a student and are thinking about post-secondary education do some research first on your chosen occupation and see if the demand is fair or good. If the demand is fair, look for another occupation where the demand is good. As always, do what you enjoy, as getting out of bed in the morning is half the battle. There is no point in studying something your not really interested in as it can be very hard studying something you don't enjoy. If your not sure, why not take a year off and find out what you really enjoy. Sometimes the right career can be something you just stumble upon.

Stay away from student loans if at all possible. Remember its a loan not free money and it does have to be paid back. Even if you declare bankruptcy, it still doesn't clear you of your responsibility to pay back the loan. Make sure you borrow only the amount of money you need, not what you want. Every dollar above and beyond what you need will cost you a lot. Although interest rates are low right now, they won't stay that way forever and will eventually 'creep up' back to more 'normal' levels of around 8 to 10%.

Shun all debt if at all possible and if you need debt then make sure its small enough to pay back. Too many consumers and students think I can afford the low monthly payments. Don't be fooled by this as the low rates that are given out. These are often 'teaser' rates to keep you the borrower locked in and will end up costing you money instead of saving it.

About Author / Additional Info:
Mathew is President of MRJ Financial Solutions and is dedicated to improving YOUR bottom line. You can contact him at: or visit

Comments on this article: (0 comments so far)

Comment Comment By Comment Date

Leave a Comment   |   Article Views: 2330

Additional Articles:
•   Why You Shouldn't Rely on CPP to be There When You Retire

•   A Visit to Wonderment Called Kerala

•   Clinical Features and Treatment For Leukemia

•   Basics of Chalazion For Women

Latest Articles in "Finance" category:


•   Why is Wheeler Insurance Renewal Important and Beneficial?

•   Turn Your Skills Into MONEY

•   I'm Giving You a Raise

•   Public Sector: A Pride to Say Or a Price to Pay....

•   Internet as a Source of Income

Important Disclaimer: All articles on this website are for general information only and is not a professional or experts advice. We do not own any responsibility for correctness or authenticity of the information presented in this article, or any loss or injury resulting from it. We do not endorse these articles, we are neither affiliated with the authors of these articles nor responsible for their content. Please see our disclaimer section for complete terms.
Page copy protected against web site content infringement by Copyscape
Copyright © 2010 - Do not copy articles from this website.
| Home | Disclaimer | Xhtml |