The video ads and dozens of junk mail advertisements you get all make big promises. They are real good at marketing the idea that they can get you out of credit. This secret weapon is pretty impressive and you know we aren’t trying to market anything to you because this weapon doesn’t cost anything, doesn’t require you send off for anything and you can find it right in your house and put it to work immediately at no cost. But it is also a secret weapon that is not hot and it will not make you go OOO and AHH by prompting you with its glossy design.
Credit card debt with some phenomenal program or secret weapon that you can get only by coming to them. When you think about it, these people are pretty bad. They are seeking to make money by feeding on people who already are deep in debt. The want to scam the victims and in many societies, they imprison people for that.
Anyway, you and I both know that many of those slick marketing productions that pitch getting you out of credit card debt over some sophisticated and costly program are a bunch of hot air. But there is a secret weapon rightwith you that if you can set off its amazing power, it can get you out of credit card debt and keep you there.
The secret weapon is a budget. See, we told you it wasn’t a sexy solution. But when you examine why you have the credit card debt in the first place, putting a solid budget in place is the foundation of a long term answer to your trouble. The marketers can give you all kinds of fancy analysis and discussion on the cause of credit card debt in your life that will put the fault on everything from the foreign exchange rate to immigration to global warming. But it doesn t do you a bit of good to point fingers about the problem. The only thing that will do you good is to hand you the tools and weapons to fix it.
You cannot get around it, you are in trouble with your credit because you are living above your means. Put differently, you’re spending more than you make. This isn t to throw a lot of fault and guilt around. There are a lot of situations that can cause you to live above your means. You could be fired from your job or have an emergency in the family that can cause you financial worries. But when the money moving out is the more money than is coming in, you have a problem that will drive up your credit card debt.
To write a budget, you simply sit down and take inventory of those two factors. You make note of money you have getting in. Then you make note of how much money you have to pay out. This measure alone is a big step towards getting your debt problem in control. A spreadsheet software like Microsoft Excel is excellent for this type of family budget planning and analysis bas you can move things around and let the computer do the math for you.
Don t make excuses about this. If you do not know how much you are spending, dig out your receipts for the last few months and take a look. Once you analyze your income and bills, you will know if there is a gap. You can then make plans to close that gap either by getting more income or by cutting out some bills or both.
It won t be fun and it won t be easy. But once you get hold of a budget, you have the base foundation for a strong family financial plan and you can move further from there. You may use some different tools to get your credit card debt under control such as balance transfers or credit card consolidation . But do not do a thing before you discover that secret weapon and make it working for you. And that weapon is understanding family budget.