Hints how to simply help with the challenge of reducing debt.

A wise debt reduction strategy: Another way of reducing uneccessary cost to enable debt reduction, well it is so simple the comunications industry even came up with a way to make it even easier for you in their field. The simple act of disconnecting uneeded utilities, services or product supply. This immeadiately, once all outstanding moneys are paid to the supplier, annihilate that or those regular debts. We eliminated the Landline phone account and billable mobile accounts, mostly because we only had the landline for the relatives at thier demands and who never called unless it was to complain we had not called another relative yet on that relatives birthday or christmas. We are now internet, YAHOO VOICE and Pre paid mobile only, pay phone when needed. That was 3 monthly debts of non static amounts of about $200 -$300 a month GONE. The internet is on a set monthly amount account.. The YAHOO VOICE OVER internet phone is around $40 a year, account PAID ANNUALLY at 1.5 cents a minute what could be cheaper than that. Do you think using these hints and tips could be leaving more money in YOUR POCKET to spend in the other areas like us.

A match the pay day plan for you: A more common way of reducing debt is to simply pay to the account more often, either weekly or fortnightly as opposed to monthly: Except maybe in the case of places that charge payment fees such as, GE FINANCE OR CITIBANK that charge $2-3 per payment which in our case is around 10 percent of the payment. This is in fact an excellent way to get ahead on not just credit card interest and loan repayments but also the utility bills. Say your Electricity bill is an average of $300 a quarter, credit cards $300 a month, rent $1600 a month and food $100 a week. Now you get paid fortnightly right. Unless you are really strapped for cash, in which case we strongly suggest professional help get sort out by you, you could do one of two things. The first is obviously not wroking, most everyone does it that way, that is part of how you got to being in debt in the first place, pay them as thier due. The smarter way is the second way and oddly enough the way that has to be not only taught but also learnt to the point of being a habbit. What is this wonderous way we found to help us, it is simply pay the fortnightly equivalent or a bit more for each of the bills.

Save a heap on interest because: Bear with me and let me explain that a little more clearly shall I. Electricity of $300 average a quarter becomes $50 a fortnight, when the bill acctually arives you will either be in credit to them or have a small extra to pay by the due date. At first and even after a while it can be a bit confusing as we recently got confused why we only had $20 or so to pay after worrying how we were going to pay the pay TV and electric bill last month NOVEMBER 2008. The credit cards get appropriately split so you pay $150 a fortnight, keep this up for a whole year you effectively end up about a month ahead on your card payments SAVING YOU ABOUT A MONTHS INTEREST EACH YEAR.

Rent, pay half each payday. And food, well unless you are in great need of something or you could not schedule shopping around its arrival. There really is no need to go shopping for groceries more than once a fortnight, milk excluded. Unless like us, you use powdered milk, making it every four to six days. So now the match the pay day plan has been presented in its most basic form. What if you get paid monthly? Lucky you, you have the easy task of getting an account that actually gets to hold the majority of your pay diminishing over the next four weeks. Using the example above in the fashion that best matches your conditions as follows. Either weekly, divide monthly bills by four, quarterly by 12, fortnightly by 2 or you can go fortnightly, thus paying twice the amount of weekly. We actually find fortnightly is better as you once again, spend less on traveling to save on interest etc, there's a double whammy for you.

How to make your creditors respect YOU: The simple act of making the effort to do the pay by the fortnight method and sticking to it also has this advantage. It tells the creditors you are serious about getting on top of things. When you continue to pay by the fortnight and paying any extra bits as they come along once you are basically on top of things, shows them you are serious about staying in control of your finances. It doesn't matter if you had to get help in the form of advice, even if you had to hand the controls over for a while to someone with more self control or a professional to start you back on track. You made a good solid and ernest effort and though they may not show it they really appreciate it and therefore respect YOU for it.