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Okay, so we know we need to eliminate debt from our lives as quickly as possible in order to accumulate wealth. But isn't that next to impossible? Isn't debt just a fact of life that we're stuck with? ...Au contraire, mon fraire!
Contrary to popular belief, debt can be eliminated from our lives. And the good news is, it's not that hard and can be done rather quickly.
The key is to have a plan of attack and stick to it. Here is a simple debt elimination strategy that is guaranteed to get the job done.
Step 1: Freeze your debt spending immediately. Incur no new debts and that goes for charge card spending as well.
Step 2: Search for Power Money in your current family budget. It's there, believe me.
Step 3: Use the Roll-Down Method of debt elimination until all debts are gone, including your mortgage. This usually takes between five and ten years. After that, you're debt free!
Now for those of you who have downloaded and read the FREE E-Book "The Wealth Creation System", you are probably already using this method. If you haven't read it yet, do it now. It will take you less than an hour to read and will be well worth it. It gives all the details of the three steps shown above. If you haven't downloaded it yet, go to: http://www.acrisp.com/wcs-free.html and get your FREE copy.
Next week we'll explain how the Roll Down Method works.
Until next time, Al Crisp, CPA
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