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Interest is the debt monster

Mar 11, 2008
So many people are in overwehlming debt, and it's incredible to find out so many don't understand how they got in so deep. All the people have the same stories, even know each of them are different.

The fact of the matter is, it doesn't matter how or why you are in debt, what matters is how and why you need to get out of debt. Right? If debt in your life seems like a giant monster, which never goes away then you will enjoy this article.

Do you really think creditors want you to know how to pay off your debt? Thats like saying the casino really wants to teach you how to win. Creditors want you do learn nothing more than how to manage your debt, just like casinos want to teach you the basics about blackjack!

You must realize that creditors are banking on you making your payments on time on the payment schedule they set up! When you pay off your car you will have paid thousands of dollars more than you bought the car for. That is real money people.

The truth is no debt should be manageable. Debt should be attacked! An all out frontal assault until there are no survivors left. Think of your debt as the enemy, and you are at war. You need tactics, strategies, and a plan of attack.

Debt understands it is at war with you, and it will do everything under the law to destroy you. When you recognize this truth and arm yourself with understanding only then will you be able to ward off its advances.

The monster's secret weapon. Did you know interest is accrued based on the principle balance? I'm sure you did. Everyone does right? Then why do we all make only one payment per month on our debt? Wouldn't it be wiser to make many payments?

Of course I can hear you saying. "I would love to make more payments, but I just don't have the financial resourses to do that. Have you not been listening to what I've been telling you!! I'm in DEBT. I do not have the ability to make any extra payments!"

First of all stop yelling at me. Secondly, yes you can. Let's use your car payment as an example. If your car payment is 250 a month, and you make the payment on the 10th of each month, you will pay off that car in the exact number of months you financed it for.

Do I have your attention? What if you took your debt and instead of making one big payment on the due date, divided it by 30 days? Making more payments to your debt during the month will lessen the effects of accrued interest.

No be honest. Did you know that? Most people don't know how interst is accrued so they don't know how to attack it. This is just a basic way to illustrate to you how to start attacking your interest and elimate your debt.
About the Author
About the author: Micahel Klein will help you receive out of debt. Go to Uwin Financial and get your complimentary debt analysis and begin living free from debt.
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