Debt Free Map

You’re afraid of loosing your job, or just losing some of your income. Wouldn’t it be nice if you didn’t have those awful credit card bills eating into your income? Credit card elimination will truly change your life.

There are rumors being circulated by the media that credit card companies are in the process of cutting there customers credit limits. This might be good for the credit card companies is a time when bankruptcies are becoming the rule instead of just the exception, but not for consumers that value their credit scores. The reason is that a large portion of credit scores are calculated on debt to available credit limit ratios. If your debt is only about ¼ of your total credit limit then slashing your limit will make that one forth about ½ of you limit. Imagine if your debt to credit limit is higher like ½. Slashing that would leave your credit cards maxed out, which is really bad for your credit score.

If this is happening to you than the best thing to do is credit card elimination. Over time you can get a better credit limit again, if you get rid of your balance as soon as possible.

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There are two reasons that cutting your expenses will help to reduce your credit debt.

1. Cutting expenses leaves you more money to send to your creditors.

2. Cutting the expenses that go right onto credit cards will keep your balance from growing, which is the best way to start reducing credit debt.

With that said, let’s talk about what sorts of expenses you could cut. This isn’t an all inclusive list; it’s just to get you started. I personally cut all of these things during times that we really needed to spend less. You kneed to make a list of all the things you spend money on every month to really know what you can spend less on.

1. Cable TV; I know I love TV to, but without it so much more gets done. Is there any way you can live without it, or can you just reduce to basic cable?

2. Internet connection; if the internet is a huge part of your life the getting rid of it might be impossible, but if you need to save money try getting a cheaper service. Think dial up.

3. Cell phone service, or home phone service; Most people can get away with just a cell phone. Also consider getting rid you your expensive contracted phone service and trying a prepaid phone. If you reduce your gabbing then this could be a much less expensive alternative. I was for us.

4. Magazine subscriptions; I don’t know but most magazines print the same articles every year. Maybe they are written differently, but the main points are the same. For this reason most people don’t read all of the magazines that show up in the mail every month. If you only occasionally read those magazines then consider canceling you subscriptions and then only buying the magazines when you are in the super market and a story has really caught you eye.

5. Movie service subscription; unless you watch a movie every night then paying every month to get movies in the mail isn’t worth it. Rent your movies from those movie rental boxes in stores instead.

6. Pest control; you only need a professional to spray your home if you have a really bad bug problem. Most bugs can be taken care of with the stuff that you can spray yourself.

Sacrificing to reduce credit debt is absolutely worth it. You are on the right track.

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Imagine a world without debt, or at least consumer debt. Imagine people that are free from keeping up with the Joneses and the bills that go along with it.

With credit card elimination we can all be free. This is not a popular sentiment in our world of having to have it all now, weather we can afford it or not.

Think about how much you put on your credit card just preparing for Christmas. Was it really necessary? Are you going to do the same next year? If begin preparing now you can change your ways.

Next year give the gift of being an example of credit card elimination.

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