People all over the world are looking for debt help and advice but don’t know how to get out of debt. It’s a common issue and you would be surprised with the number of people that are in debt today. And I don’t mean a casual car loan – but a full blown, stressing and pressuring type of debt. If that sounds like you then you need serious debt help.
Friday, April 29, 2011
Cut Your Credit Cards and Set A Budget
Every family that finds themselves in debt should cut up all their credit cards and live on a cash budget, keeping a log of each and every expenditure made. Use the following formula to set a budget. Keep in mind that the "life" category includes is everything from groceries, to gadgets to entertainment. Housing: 35%, Debt: 15%, Life: 25%, Transportation, 15%, Savings 10%.