FMOOD 0054: Five Simple Steps to Getting out of Debt - a podcast by Tom Merlino | Tom is inviting you to follow him on his journey to get out of debt and get into prosperity.

From personal experiences as well as from the experiences of others, I have compiled a list of five simple steps to help you to get out of debt. These steps and actions can be applied to whatever strategy that you are currently implementing towards completing your goal.

 

First, I'll discuss why you shouldn't bury your head in the sand. I'll discuss how to ensure that you don't do this, because doing this is probably the worst thing that you can do when it comes to getting started with paying off debt. Next, I'll talk about how you can curb your spending and certain strategies that will help you to free up some financial resources that can be applied towards your debt payoff. Third in this list is the importance of not allowing the IRS to hold your money hostage for a year and what you can do to ensure that this doesn't happen in the future.

 

The last two on this list tend to go hand-in-hand. The first of these and number four on the list is to make paying off debt a priority. Wherever you are at in your plan, make sure that you apply the amount towards debt that you had originally planned. I'll discuss a brief tip that will help to ensure that you aren't tempted to use that money that was set aside for paying towards debt for something else. Finally on this list of five is to never, ever add to the pile. You don't want to continue using debt or accumulating more debt while you are trying to pay it off. This is a surefire way to hinder your plans and may even bring your plan to a complete standstill (or worse yet, you end up going backwards). Don't do this.

 

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Visit the http://followmeoutofdebt.com website to read my blog and get my latest status updates on my personal journey out of debt and into prosperity!

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