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Article Title:
Top Ten Tips for Getting Out of Debt

Article Description:
Believe it or not, I've been in debt. BIG DEBT. I mean, there 
were times when I would look for things to sell just to pay the 
bills. It was the worst feeling in the world!

Additional Article Information:
647 Words; formatted to 65 Characters per Line
Distribution Date and Time: Tue Mar 28 03:49:09 EST 2006

Written By:     Russ Dalbey
Copyright:      2006
Contact Email:  mailto:[EMAIL PROTECTED]

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Top Ten Tips for Getting Out of Debt
Copyright © 2006 Russ Dalbey
The Dalbey Wealth Institute

Believe it or not, I've been in debt. BIG DEBT. I mean, there 
were times when I would look for things to sell just to pay the 

It was the worst feeling in the world!

I always had stacks of unpaid bills, creditors calling me and a 
real uneasy feeling in my stomach. And I wasn't the only one. It 
seemed like everyone I knew had the same problem. 

The truth is, debt has reached epic proportions in our society. 
Whether you're rich, poor, or somewhere in the middle, chances 
are you've got debt that's working against your dreams of 
financial independence. 

But it doesn't have to be that way. In fact, I want you to take 
some action today to start getting out of debt. You'll be AMAZED 
at how much better you feel when you don't have bills hanging 
over your head. (And you don't have to win the Power ball jackpot 
to get out of even the most unbearable debt!)

I've been there, and now I'm debt free. Here a few tips I used a 
long the way:

1. If you're in over your head with multiple credit card 
accounts, you need to destroy your cards right away.  Just keep 
one card for emergencies. Remember, credit cards have compounded 
interest - so you actually get charged interest ON INTEREST! So, 
don't use them unless you can pay them.

2. Pay more than the minimum payment every month - in fact, pay 
as much as you can.  Money in your account isn't making you money 
as fast as your unpaid credit card debt is losing you money!

3. Pay off the credit card with the highest interest rate first 
and pay the rest in descending order. If you tackle the biggest 
money drain right away you could make a huge impact on your cash 
flow in a matter of one month.

4. After you pay off one credit card, don't let up. Apply the 
money you've been paying that particular company to paying off 
another credit card or another outstanding bill. Set a "credit 
pay-off budget" and stick to it as you pay down cards. Once you 
get to the last one, it will seem easy!

5. Don't "rotate" your debts - pay every one every month. It's 
easy to pay a few on time one month, and switch around for the 
next month. That just keeps you further behind.

6. If you own a home, consider taking out a home equity loan. 
You could save hundreds, possibly thousands of dollars by paying 
off your high-interest credit debt by moving those balances into 
a fixed-rate home equity loan.  

7. Pay additional money towards your mortgage principal.  This 
can add up to tens of thousands of dollars!

8. Open a savings account or an IRA with some of the funds you 
were dedicating to a now-paid credit card. Special tax-protected 
investments like an IRA can save you thousands in taxes over the 

9. Consider debt consolidation. It could help you to consolidate 
and pay your debt off more quickly. Beware of companies that make 
unbelievable promises about "fixing" your credit, though - at 
best, they can be very expensive. At worst, they can be 
fraudulent. You might be best off consulting with a reliable non-
profit credit counseling agency first, such as Debt Counselors of 
America (DCA) - 

10. If you need help along the way, contact the Consumer Credit 
Counseling Service (1-800-388-2227). They will help you organize 
and consolidate your debt.

I know you're focused on financial success and maximizing your 
wealth. Don't overlook how much your debt can undermine your 
efforts to get ahead. If you take even a few of these tips to 
heart, you'll soon be well on your way to a debt free, 
financially successful future.  I know you can do it!


Russ Dalbey
The Dalbey Wealth Institute

As the CEO and founder of The Dalbey Wealth Institute, Russ 
Dalbey has authored dozens of best-selling books and articles 
on the cash flow business. A highly sought-after public speaker 
on the topics of wealth, success, and personal motivation, 
he is a self made, self-educated multi-millionaire.
The Dalbey Wealth Institute:



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