Debt Reduction Manifesto

[jeffrey]

If you were to put together a debt reduction manifesto, what points would you place in it?

[Bob B.]

Every month, calculate how much you spent on interest, and commit to decreasing that expense each month.

[lorraineb]

Start Spending Wisely: Cut expenses, but do not in a way that will cost you more money in the long haul.

Commit: It's a lifestyle change, not a temporary change in spending

[disneysteve]

The first rule when you find yourself in a hole is to stop digging.

In order to get out of debt, you must first stop acquiring more debt. Stop using the credit cards. Don't borrow money for anything else - not a car, not a home, not furniture or appliances. Even 0% debt is still debt so that counts too.