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May 20, 2006
Paying Off Debt – What’s Your Vice?
I have been looking high and low for ways to pay off some debt. Currently there are 2 lines of credit I have that I would like to see go the way of the dinosaurs. My family could do so much more in the way of vacations and outings if a few debts became extinct.
So, how does one go about paying off debt?
1. Go make more money. For most people this isn’t really a possibility. For me I do have the ability to do this as I operate a small internet based business which I can grow. So I am working harder on my business and planning to hire some help to reach higher levels.
2. Another way to pay off debt if you do not have the ability to increase your income is to find your vice. What thing is it that “nickel and dimes” you out of money? For me I have a bit of an addiction to cigarettes which I am working on giving up. Bought some nicotine patches yesterday and nearing the end of day 1 of no smoking. Where I live it is $8/pack and at a pack a day that’s $240/month (assuming a 30 day month).
When I combine working harder to grow my business with giving up smoking my debt will be paid off quite quickly.
So what’s your vice? Daily lattes? Lunches out?
Everybody has some little vice that costs a small fortune – Find it – Curb it – And get out of debt!
Have you considered ways to make more money? Maybe you have thought about starting a home based business but don’t know how or what to do. If that’s the case please leave a comment here as I am working on producing an affordable training guide to get you going on earning more and paying off debt.
Hey, maybe you could even quite your “real job” like I did. Again, if this interests you please leave a comment by clicking on the “Comments” link directly below here.
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