Are You In A Perpetual Debt Trap

Definition : Perpetual - lasting forever or for a long time. Continuing without interruption; constant.

While I was picking up my dry cleaning I saw a couple of advertisements that promoted buying new furniture with "No Payments For 90 Days". This made me think of a constant debt cycle that most people including myself in the past would go through over and over again.

I call it a "Perpetual Debt Trap". There are several types of debt(s) that we will have unless we make a concretive effort to rid ourselves of them. Because these types of debt(s) are usually based around a real need in our lives we are more apt to favor the "Perpetual Debt Trap" they place us into.

Some of the types of debts that keep us in a "Perpetual Debt Trap" are:

• Credit Cards - most credit card users start out paying off either most or all of their balance when they first get a credit card. But as time goes by most users start to carry balances and those balances get higher and higher as the years go by. But to dig a little deeper we really use the credit card for a lot of items such as computers, furniture and clothing that we really need but we shouldn't have purchased with credit. So what happens is every time we need to upgrade to a better computer or newer furniture we continually use credit cards to or some type of credit to upgrade.

• Auto Loans - this is what 99.9% of American's do over and over again because they have a tough time paying cash for a car. We need dependable transportation so we feel that it's ok to either trade-in or purchase a car on credit. The larger problem comes when you constantly trade-in a car and never pay it off you'll keep owing more and more money.

• Mortgage Refinancing - we currently see the effects of the mortgage refinancing market. People were refinancing to either pay off credit card debt, auto debt, to add on to the property or to get cash out. They never gave themselves a chance to pay down their debt and accumulate equity in their homes.

Are you in a "Perpetual Debt Trap"? Here are the 7 Steps to getting your financial house in order...

1. Stabilizing your household situation - you'll never be able to pay any debt if you can't ensure that you and your family has a roof over your head, food on the table, utilities paid and transportation to and from work.

2. Set-up a budget - you'll never understand how to management your money unless you know to the dollar what's coming in and what's going out.

3. Put together a debt elimination plan - when you have a budget you can put together a strategy to pay off your debt faster because you see what's in front of you.

4. Establish an emergency fund - this is very important because most people use a credit card for an emergency fund and that's a problem. If you have cash on hand more than likely you'll rarely have emergencies and if you do have one you won't have to go into debt to take care of it. I recommend at least $500 to $1,000 accessible cash with no penalties if used. While getting out of debt.

5. Review for acceleration of your debt elimination plan - once you have the other steps on paper there are several options that will open up for settlement offers on credit cards, automobiles, payday loans, etc.

6. Action + Action + Belief + Concentration = Tremendous Results - nothing will happen without you taking definite action with belief you can accomplish your goals and a high level of concentration to keep you focused on your goals.

7. Start saving for life experiences...Fun, Retirement, Generational Wealth

Before you sign up for any debt relief program such as bankruptcy, debt consolidation or credit counseling please read this free consumer guide to getting out of debt at

http://therealdebtsolution.com/debtsolutionblog/getting-out-of-debt-consumers-guide-newly-released/