Pay Off Your Debt

Pay off your debt is the subject line of a lot of spam email that ‘s going around lately. There’s only one way to pay off your debt without bankruptcy and without damaging your credit score. That is, spend less than you make.

There are two components to this. Reduce your spending and increase your income. If you have a real big debt issue, drastically reduce your spending to bare minimum. You can survive without cable tv, expensive lattes and those new shoes. Move yourself to a “cash econonmy” by paying cash or debit card for all purchases.

To increase your income, you can change jobs, ask for a raise or start your own business. I would recommend starting your own business no matter what. Not only can you increase your income, you can decrease your tax burden which will give you a raise in effect.

A good network marketing business can be started quickly and inexpensively. You will have training and people supporting you. You will also start to create residual income which is a cornerstone for any wealth building plan.