J_Swedeen_APA_IP1.

J_Swedeen_APA_IP1. - Four Steps of paying down your debts...

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Four Steps of paying down your debts once and for all According to the National Foundation for Credit Counseling, the top financial new year’s resolution for consumers in 2011 is cutting back on debt. Now that the year is nearly halfway over, how many people have kept that pledge? If your resolve is starting to fail, the Minnesota Society of CPAs (MNCPA) offers these tips for making it happen. Get the big picture Begin by adding up all your outstanding consumer debt. You may be in for a pleasant surprise, if you come up with what seems like a reasonable number, or in for a rude awakening, if the total is larger than you expected. In either case, before you can create a plan to eliminate debt you must know how much you’ve got. What you find may change how much money you want to pay off each month and how long you can realistically expect your efforts to take. Cut the cards Now that you know how much you owe, you must take one important step to prevent adding to that amount: Stop using your credit cards. Lowering your existing balances won’t help you if you are only adding to them each month. If doing away with plastic altogether is not possible, budget
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J_Swedeen_APA_IP1. - Four Steps of paying down your debts...

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