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Much of the debt most people have can be traced back to purchases they made, we call this self inflicted debt. Some debt, though self inflicted, is necessary and having a disciplined approach toward acquiring that debt will serve your best interests. However other debt comes to us by no fault of our own, in life accidents happen, medical bills happen, jobs are lost, so in all cases we need to be able to manage and payoff debt.

There are some “secrets’ worth knowing and one is that a the minimum payment on a credit card is calculated to keep you in debt for many, many years an easy solution is to stop charging to that card then take the most recent minimum payment and make that your permanent monthly payment. This will pay that card off in a short time and if you can pay more on the debt it will payoff quicker!

Getting into debt is easy and getting out of debt is hard. Life can provide financial challenges and cause us to go into debt but, most debt is self-inflicted. Debt eats away at our finances and keeps us from funding our goals. If you have determined to rid yourself of debt, you have taken the most critical step! Learning to payoff debt is an essential experience .