Archive for the ‘Finances’ Category

One of the first steps toward financial freedom is acknowledging and dealing with your debt. Credit cards and other high interest debts need to be reduced and eliminated if you ever hope to be free. The most important step is determining how much you actually owe.

Write down all of your current debts and then set a realistic date when you will have them paid off. Create a debt management program and put it into action. It is a generally accepted strategy to first pay off and close the account with the highest interest rate and the lowest balance, while making at least the  minimum payment on all other accounts.

When you take an active role in reducing your debt, you’ll be on the way to having more control over your finances.