The 3Es of Credit Card Debt Reduction Strategy...

Sometimes, you know things are quite unruly. You know what Einstein, humorously said was the greatest force? Compound Interest. Now that's precisely what blocks, and to a smashing extent pulls you down in your efforts to develop and carry out any credit card debt reduction strategy that you believe is your "damnedest best"!

No, I don't mean to sound like that, but the thing most people don't understand about debt reduction solution is that your attempts to reduce the credit card debt or pay them off is easily blasted by something called "the interest" on your balance. If you don't know how to proceed exactly, you'll find yourself rich in debt - even if you had attempted very hard to divorce your credit card!

One of the chief reasons people don't succeed in paying off credit card debt is inconsistency and impatience. Apart from that, in several cases, I've detected that people are not particularly shrewd about their debt reduction strategy. Here's a plan that works wonders once you adopt it earnestly...

I call it the 3E formula. Estimate, Enumerate And Execute.

1. ESTIMATE
Number one thing you need to do before you actually start - and if you wish to have a great start - is to estimate the total debt, the APR or the EAR (rates of interests), and other such trivial and important details. That's the first and easiest part of any debt reduction strategy or plan. This kinda allows you to know beforehand where you stand and lets you know how much time and effort you need to put in.

Remember, no debt is non-eliminateable - if that word exists. You can get rid of every debt, but by ceaseless efforts. Estimate.

2. ENUMERATE
This is a number game. Hypothesizing there's an quantity of balance that seems frightening, we tend to actuate away from it - and in the process, don't pay at the least (and even) a part of it. What befalls then is that as Albert Einstein said, compound interest increments the balance and at last, you have got a terrifying amount. If the initial balance was frightening, this one was terrorizing!

What you need to do here, is to ascertain an guess percentage of the balance - say about 3-8% - and pay that each month. That way, you decrease the balance for which the interest is computed and thereby, the part of amount you pay also diminishes! By the end of the year, you might have actually gotten rid of some 10s of thousands of dollars! And become a debt-free man!
Enumerate!

3. EXECUTE
This is where most of the credit card debt services tend to lose their reputation. Psychologists articulate, you need to be prompted bluntly and motivated and pushed openly to get you started in the de facto action of "credit card debt pay off". I don't entirely agree with them, but I think sometimes they're wiser. So, here I am, pushing you plainly, screaming in your face bluntly, GO AND DO IT.

The choice is complete yours. Winner or Loser? Start the game today, and you will win soon. Think about putting it off to tomorrow, and you loose.

How $2K Becomes Fatal

I've seen so many internet marketers (business as usual!) boast of making a million dollars in sales of something hot and "hypie", while spending merely thousands in the launch process. And that is what is usually dubbed as $1000 becomes $1m etc. to attract the netizens! However, our issue too has its own 1k to 1m process.

It was about 1.15 p.m when this thought came about. I was having this calculator in one hand, doing some basic calculations of accounts, when all of a sudden, I wondered how it would turn out, if a $2k debt is left to the dogs - the interest!

Humor sometimes turns out tragic.

This one's fatal. Supposing you are merely thinking about clearing the debt, while actually what you are doing is nothing... which means, the debt keeps increasing something like exponentially, because the rates are compounded. Remember, this is not simple interest! Anyway, what happens is this...

Typical EAR (not APR) for credit cards in the USA is about 17-18 %. For our sake, let us take the maximum - 18%. Now, if there's about 2000 bucks negative in the balance sheet, you are supposed to either pay up that debt, or... "meet the consequences" ;-)

So, in around 5 years, with an 18% EAR, your balance will stand at about $4,575 with a change of 52 cents that goes for chocolates! Anyway, if you thought $2k was frightening, I will give you some words to describe $4.5K! Fatal? Destructive? Terrorizing?

Welcome to the world of dreamy debtors!

The fact is this: If you begin now, you might have a chance to come out of the debt and the mental rut. If you don't begin now, then all I need to say is $4.5k! In ten years, that's gonna become $10,467 with another 67 cent change that could buy you a cigarette or two!

So what do you say? Dreamy yet or ready to begin? One site that has consistently proved to be a real winner for people who have been deep in debt is this one. This is not exactly my favourite, but it has been here since the golden days of internet itself, and has had several rave reviews. I am not here to give rave reviews, of course, but this thing can get you started today so that $4.5k or $10.467k can be avoided. (Yes, the changes also)

Get the ebook here.

So until next post...

D For Debt...

And the rhythm goes on.

Today, I did a search on Google for Credit Card Debt Consolidation - no serious thing, just to find how much more fluff and filler has been added. Quite a lot.

I think you know that this is a really serious issue today, with so many millions of people trying to get rid off the debt, the negative balance hanging around their cards like an albatross - that's the word for it, I think!

Anyway, there is an enormously under-rated secret to all this hype about credit card debt pay off thing. You, of all people, should know that. That secret is... that there is no secret! I know you have heard that many times, but it still remains a great secret!

Credit card debt pay off is all about CONSISTENCY. You can learn a new trick today, apply it tomorrow, and when you find that the trick you used isn't working for now, you quit! And that is what keep doing for every trick or technique that you try!

For years now, people have tried to control the debt. Yes, they are trying even today, in vain! Why? Why after all these should people still be chased by debts of unimaginable magnitude?

Someone asked Albert Einstein what the greatest force was. In his usual humor, he had said, Compound Interest. That is something that bothers terribly in the case of a credit card debt. The interest on the debt ensures so fatefully that the debt keeps increasing.

And do you know what? If you don't stall the debt now, it will still keep increasing and by next month it will be some draconian devil that you fear! It's about how you first stall the debt from increasing, and then go about trying to reduce it. And then, BAM. The debt vanishes!

But then again, it's about consistency. Strong and dedicated consistency. You need to be stolid in your attempts.

Anyway, so long for now! Await my next post...

The First Post..Welcome!

I am no good at the welcome post. All I know to say is, Welcome to this blog!

Anyway, the reason this blog was created was to help you pay off your credit card debt, manage it and get rid off it. However, months of online search only showed me that there is enormous info out there, but everything is always accompanied by fluff and filler.

If you've been searching for help online to pay off your credit card, then I think you know how many hungry sharks are out there to tell you what you already know - and snatch bucks from you for that!

Frustration is often the root-cause for many problems. However, in my case, this was the cause of this blog.

Credit Card debt pay off is really a pain in the ass - especially if you know how the debt shoots up exponentially. And nothing works out if you just keep thinking about doing something! You need to ACT. So, you can consider this blog to be the launch-pad!

That will do for the first post, eh? Well, yes! I will stop here, but the next post is gonna be something hot. Definitely.

So wait for the next post, and meanwhile hit Ctrl + B to bookmark this blog. Who knows? After all the effort and trial, this might be the last time you are ever gonna try sweating off the debt!
You might actually get rid off it!