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    Get Out of Debt! Book One: Dealing with Challenges of Debt
    Get Out of Debt! Book One: Dealing with Challenges of Debt
    Get Out of Debt! Book One: Dealing with Challenges of Debt
    Ebook60 pages1 hour

    Get Out of Debt! Book One: Dealing with Challenges of Debt

    By David Rye and Marcia Rye

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    About this ebook

    As tens of millions of people have discovered, debt can be a crushing burden. It can tear down dreams and destroy lives. But debt can be avoided. With fiscal discipline and a clear plan, anyone can get out of debt and live debt-free.
    In the easy-to-read, accessible style of the Get Out of Debt! series, authors David and Marcia Rye explain how to:
    • Assess debt problems
    • Use home equity to get rid of debt
    • Cut college expenses
    • Live within a budget
    • Understand bankruptcy law
    • Stay out of debt

    No one has to live in the shadow of financial insecurity any longer. When the economy takes a turn for the worse, it's essential to get out of debt. With this series at your side, you’ll conquer debt and secure the financial future you deserve!

    Be sure to get all four books in the Get Out of Debt! series.
    LanguageEnglish
    PublisherSimon & Schuster
    Release dateOct 15, 2011
    ISBN9781440535864
    Get Out of Debt! Book One: Dealing with Challenges of Debt
    Author

    David Rye

    An Adams Media author.

    Read more from David Rye

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      Book preview

      Get Out of Debt! Book One - David Rye

      Get Out of Debt!

      Book One: Dealing with Challenges of Debt

      DAVID AND MARCIA RYE

      9781598699944_0002_002

      A division of F+W Media, Inc.

      INTRODUCTION

      Do you ever wake up at night worried about the financial setbacks and conflicts that you’re having with your creditors? Do you become aggravated over the fact that you never seem to have enough money to live on? What are you going to do to control the confrontations that erupt when you address the subject with family members? What steps can you take to eliminate the financial mess that you are in?

      Unfortunately, tens of millions of Americans are in your shoes. Like you, they are headed for financial disaster if they don’t figure out a way to get out of debt.

      This first installment of Get Out of Debt! has been written to answer your questions. As you read the material in this book, you will quickly learn how to assess the magnitude of your debt problems so that you can determine where you’ve been, how you got there, and, more important, where you want to go. When you plunge into these questions about how to avoid debt traps and how to create a realistic spending plan that works for you, you will discover the answers you’ve been looking for. You’ll find out how you can dramatically improve the overall quality of your life once you eliminate your debt load.

      The Get Out of Debt! series contains all of the elements you need to consider to get out of debt and improve your financial well-being. Each installment includes a set of questions that builds on what you learned from the previous one. Based upon your own situation, select the installment and questions that cover the subjects that are most important to you. That will allow you to maneuver through your personal debt-related issues and make the right decisions to avoid economic catastrophe. All four installments of Get Out of Debt! are filled with real-world examples and supplemented with detailed here’s why it works illustrations.

      The sooner you start mounting an assault on your personal debt, the sooner you will see your debt numbers heading down rather than up. When that happens, you will feel great!

      Chapter 1

      DEALING WITH

      YOUR DEBT

      The average debt level of people just like you is a scary 20 percent of their disposable income, not counting their mortgage debt. The average American owes $9,000 on his credit cards alone and he’s lucky if he is just able to stay ahead of the bills. Only 1 percent of Americans are able to put some money away for savings. On top of all that, every American (man, woman, and child) owes $80,000 to Uncle Sam to pay off our insidious national debt. Over the past five years, the average total household debt (mortgages included) has soared from 60 percent to 75 percent of annual disposable income. These are just a few of the debt numbers that can make anyone become discouraged. Rather than dwell on them, let’s get an overview of your situation.

      #1. What is the primary cause of personal debt?

      Excessive spending is the primary cause. It has become as addictive as alcohol or drugs in this country. Like alcohol or drugs, debts can interfere with every aspect of your life including damaging relationships with those who mean the most to you. Americans owe more money now than ever before. As you read through this chapter and assess your current debt situation, take an honest look at your spending habits. Do you have a spending plan that’s written down and that you follow? How much are you spending every month by expense categories? Before you can solve any of your debt problems, you need to understand how you got into trouble in the first place. If you don’t take the time to determine how you got into debt, then in all probability, you will repeat the same mistake again and again.

      Think back to the point in time when you were able to live

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