For many people throughout the world debt management is THE major focus of their financial life, but how to fully manage overwhelming debt can be an elusive goal. Buying items on credit, whether one can afford it or not, is a part of our modern day culture. This "get today what you can pay for tomorrow" is a constant message we see on the TV, the radio, the newspaper and just about every other form out there. Therefore debt has become "okay" in our society, but too much debt has also crippled many family's finances often to the point of bankruptcy or even homelessness. Managing your debt wisely is key.
Many people ask the question "How do I manage debt" or "Is debt management for me" or they just say "Help, I'm up to my ears in debt!". The typical answer or debt management solution they get is much easier to say than to do: avoid credit card debt, don't buy a car or house that you can't afford, don't go out to eat every night, balance your income vs. your expenses, etc. OR, worse yet, "get another loan to manage your debt".
However, there are two major problems with this type of debt management advice:
1) You are already in debt. If you were doing these things you would be debt free and would have any debt to manage. Doing the basics now, doesn't help you pay off those loans or high interest rate credits cards fast enough. However, we do recommend that you get back to the basics of frugal living at the very least as a starting point to managing your debt.
2) You may have already been doing these things and rolling along debt free, but something completely unexpected came up. Maybe it was a large medical expense or you got laid-off from your job. To pay the bills you went into debt and now you can't get out of debt no matter how hard you try.
The goal of this site is to gather some tools that can help you get debt free and manage your debt.