One of the most important things you can do financially is to get out of debt and to stay out of debt. Think about how quickly you could build wealth if you paid yourself each of those payments instead of paying someone else each month. Interest would be working for you instead of against you. True wealth building can only begin after you have eliminated your debt.
Take control of your situation now. Add up your debt to figure out how much you need to pay off. This is like getting on the scale to figure out how much you need to lose. The number alone may be enough to motivate you to get going. Then figure out how much you can squeeze out of your budget to pay off your debt. The more you cut back now the quicker your debt will disappear. It's just like a weight loss plan, the more you exercise and limit your calories the more quickly you lose weight.
Make a chart so you can track your progress, and give yourself rewards along the way. For example a small dinner out when you reach your first $1,000 and something more extravagant when you reach $5,000. When you are out of debt take your dream vacation (paid for with cash, not on credit cards) and celebrate the new chapter of your life.
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