How to Reduce Debt - The Debt Doctor

If you find yourself in a situation where you have so much debt, its all you can do to just to cover your minimum payments, let alone make any progress in repaying the debt, you'll be in a pretty stressful place.

You work so hard for the money you get, which is why these times are so stressful. It seems you are spending all your time working to make someone else rich and the small amount of money we get for your efforts is paid to someone else, making them rich. There is so little left at the end of the day that you cannot afford to enjoy the fruits of your labour, or any of the fun things life has to offer. It becomes a depressing cycle. Your life becomes a perpetual cycle of:

Go to work Get paid Pay off debt Buy necessities Nothing left so stay at home Go to work

I've been in this situation too, you can read how I got in this situation here: My Debt Issue. It was a real shock to me when I recognised I'd been caught in a debt trap. I couldn't sleep for days. My mind kept ticking over trying to work out how I would ever get through it all. To exacerbate my situation, my partner was pregnant, we were 6 months away from our first child being born. I had a very short amount of time to organise things so I could afford our new (and very much loved) little expense during a period of time where we lost 1 of our incomes.

 

The way I fought myself out of this fix, was by using the Debt Doctor Tool This tool really helped in a number of ways, including:

  • It showed me exactly where I was
  • It helped me prioritise my debt
  • It optimised my payments to ensure my debt was paid off in the most efficient manner possible.
  • And as a bonus, it showed me how I could save over $205,000 in interest payments and take over 15 years off the life of my debts

You can see my report displayed graphically below:

 

reduce debt

 

This debt reduction tool also has a number of other features all aimed at helping you help yourself out of debt problems. These include:

  • The ability to set up different scenarios so you can see the long term impact of different repayment levels
  • A training program ensuring you get the most out of the debt reduction system
  • A monthly tracking device to ensure you stay on track
  • A great article library specifically focused on debt education. I learned a lot about myself and my habits reading these.

 

Thanks to this device, I no longer feel the pressure of my mounting debts. I managed to pay off my first 2 priorities before our daughter was born. This gave me the breathing space to manage the additional cost pressures of "family". I am now well into paying off my third debt, while keeping my other debts on track. This has also freed up some cash so I can get back to my income generating investment programs such as my foreign exchange trading program. This in turn now generates more income, helping me pay off more debt. So my debt cycle has reversed, it is now working for me.

 

If you are experiencing debt issues, I strongly recommend you review the Debt Doctor Program.

 


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