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Here is my advice...Ive lived by some of it to get out of debt after college, and other parts are jsut tried and true methods: - Try to have things consolidated. Normally you can get a lower interest rate...BUT!!! Be careful...Normally with a consolidated rate youll pay a smaller amount of total payments because you only have 1 minimum payment instead of say 6 per month. This can be bad...Youll waste just as much money doing this. Check on how much you pay right now...When your consolidated laon comes in, pay ATLEAST that much monthly on the loan.
- Dont buy stupid crap...I see SOOOO often people jsut buying things that they see...little basketball hoops, a box of candy, baseball cards, whatever...SAVE all that money...chances are youll never use that stuff moer than once anyway, and its all those plethora of items that are bought and accumulate that take moeny out of yoru pocket and away from payign bills.
- Quit having a social life for a few months. Its dismal, but hey...Your in seriosu debt, and thats more critical than getting laid at the bar next weekend. Dont spend money on lotto tickets, alcohol, nice dinners. be humble, dont set one of those $20/month budgets on alcy or anything...DONT spend ANY for the time being.
- Put EVERY cent you can towards the highest interest rates...And remember that time does play a factor...If you have a HUGE long term loan, you will probably end up paying ALOT more interest into it over the course of it even if it is a lower interest rate...
- A friend, or friend of a friend or something...buried all their credit cards in the bottom of the fish tank...If they saw something they wanted, they woudl ahve to dig in the fish tank for the cards...and it was usualyl a pretty good deterrant.
- Have a garage sale, and put ALL....ALL... proceeds towards bills and loans.
--Drop insurance on the Z for a couple months and ride a bike or carpool with mom and dad....You dont get dignity or pride right now...yrou in debt, that is first and foremost... I hope this helps...It really sucks seeing hundreds of dollars a month go to interest an donly be able to pay the minimum...Good luck...
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17:56:52 11/04/03
