Living Without a Salary

How to reduce your expenses, so you can live without a salary!

Credit Card Debt-itis June 24, 2010


In medicine, many illnesses and diseases tend to have “itis” attached to the end of a word. Dermatitis–a condition affecting the skin…appendicitis–an inflamed appendix…debtitis–a condition that affects the mind in that the victim must spend too much money and get into debt. When attached to a common word like debt, it then indicates that there is a sickness present. And let me say that there is a sickness present with credit card debts! While many experts think that there are ways to cope with credit card debt-itis, the only way to get rid of this condition is to get rid of the credit cards. Only then can the victim really start the healing process. Get rid of the credit cards, and then follow the 3 step plan to curing yourself of credit card debt-itis.

Planning

The first part of planning is to make a list of the charges you incurred while afflicted with credit card debt-itis. At the very least, if you are in too deep because of your illness, just write down the name of the credit card and the amount you owe on that card.

Next, write down how much income you have each month. Include your salary and any other side income you get. On the other part of the paper, write down all your expenses for the month, excluding your debts from credit card debt-itis. Look at where you can fit in payments on your debt, and work these payments in. Then re-work your expenses to include your debt repayment plan.

Executing

This next step is the most painful to complete. Cures are never easy, but getting over credit card debt-itis and staying cured is very worth the pain. After the planning phase of your cure is complete, then you must actually write the checks and pay down these debts. Cures take action, and you must take action. If you stop paying down these debts, your debt-itis will come back even stronger. It is in your best interest to continue with the cure.

Evaluating

Completing the first two phases of your cure are the hardest part of the healing process. After you have made significant progress in paying down your debts, evaluate your accomplishments. Have you paid down many of your debts? Are the balances going down significantly every month? If they are, then consider the cure effective and finish up with your cure. If not, look at where else you can take money from to pay on your debts. Go back to the planning phase and start again. Credit card debt-itis will not go away on its own, and must be treated for you to get better.

Freedom At Last

You may not realize how much you are suffering from credit card debt-itis until you get free from its grasp. Tossing and turning every night, worried about your debts is a sure sign that you are suffering from credit card debt-itis, and when you are finally cured, you will find that sleep comes easily. Also, when you are free, you will also be able to breathe easier…so take the first steps today to cure yourself of the dreaded credit card debt-itis. It can only get better from here.

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