What is the best way to pay off debt and get out and stay out of it!?

[eddey]

Hi Everyone,
please suggest me some of the best ways to get out of debt and become debt free as soon as possible...?

[bob]

Eddey, I wrote a series a while back about getting out of debt that might help you out a little bit... http://christianpf.com/getting-out-o...not-about-you/

[paul]

Paying off debt is the most difficult part, for which you may need expert advice from debt consultants, or debt management companies such as http://www.debtburst.com, http://www.debthelper.com, or http://www.payplan.com. Their debt advice and debt relief programs can help you get out of debt. Staying out of debt is in your hands. You such avoid unwanted expenditure, start saving and limit use of credit cards. Here is a very interesting article on how to stay out of debt: http://www.ehow.com/how_2054053_stay-out-debt.html.

[MortgagesByMark]

Hi Eddey, a great way that my wife and I cleared some bills was selling stuff on Craigslist. A lot of people have garages full of stuff they don't use or need, you might as well. Convert that stuff to cash. It's amazing how quickly you can accelerate the payoff of your bills when you sell stuff this way.

One thing I learned about selling on Craigslist was not to start your pricing low. Do a little market research on the site for other items similar to yours to get an idea of how much stuff is selling for, then start your pricing high. If you don't get a lot of calls, slowly drop your price over time. Once people start calling, allow for a little negotiating room, but don't just take a cut rate price because some guy is trying to get a deal. Hold firm on a fair price so you can maximize the cash you get out of each item. I've found this strategy works pretty well. Once somebody drives out to meet you to see the product, that's usually a signal they intend to buy at whatever price you posted or agreed upon over the phone. There's no need to negotiate from there because they don't want to waste a trip and return home empty handed.

Oh, and another thing, often you can sell individual pieces of things for a lot more than as a whole. We sold an extra bed on Craigslist that was barely used and in great condition. It was one of the first things we sold and we were surprised at how many people wanted just one piece of the bed, such as the frame, or the boxspring. We ended up selling the bed piecemeal for a lot more than we originally priced the whole package.

Anyway, just some ideas. Best of luck!

[robertgpitts]

Hi Eddey. Staying out of debt is mostly about behavior. Here's a tip. Whenever you have an opportunity to buy something, ask yourself this question: "Do I really NEED this?" If necessary, take 24 hours to ponder the question. Most often, the answer will come back, "No." As you become more practiced in the art of saying "no," you'll be amazed at just how few "needs" we really have. And when your financial house is in order, you can begin to say "yes" more often to yourself and others.

Robert Pitts
Freedom Personal Finance

[lodoren]

I agree with Robert. To begin, you need to change your attitude about money and your behavior. Why are you purchasing things? Many people find its about keeping up with the Jones', a habit, a pick-me-up, a feeling of self worth, etc... and once you determine that you can start to change your thinking. I was able to pay off $48,000 of debt, purchase 2 cars CASH and purchase my new house free and clear once I changed my behavior and thoughts. Then I had to get down to the nitty gritty- I downsized everything I possibly could, sold as much as I could, paid off my credit cards as quickly as possible (the snowball effect) and cleared up my credit report. Just ask yourself- what is more important, spending the money for something I want or taking that money and paying off my debts? If you want some help I could direct you to a few places that helped me. God Bless!

[Gary Barzel]

You need to start budgeting and be sure to keep to it. Detail all you're monthly expenses, and take into account some unexpected costs such as repairs etc. Be sure to keep to it and spend only on what you have to. Also when you go shopping create a list of what you need, and stick to it. Too often we end up buying items that we don't necessarily need.