Personal Debt Reduction

Debt Reduction Strategies


The road to Financial Empowerment begins with getting yourself out of debt and the finding a way to produce substantial income from your own business. Most wage earners are in debt and sometimes it seems like a bottomless pit. Let’s get out of the pit and live life on our own terms.

Are You Living Beyond Your Means

Getting into debt is easy. Getting out is hard. The thing is we don’t even have to be foolish with our money to get into debt. Buying a home, raising a family, student loans, getting a car are expenses that we are all faced with. The ease of credit makes buying easy. It would be nice if we were taught how to avoid debt in high school and we should be taught how to make money after school.

One year my wife and I decided we should see where our money goes. We tracked every cent we spent right down to the parking meters. It is interesting to see where your money goes. So it begins, where could we stop nickle and dime our self to death.

Don’t Lease your car. It’s nice to have a new car, but unless you have a business to write your lease off you are paying a premium for that vehicle. A one-year-old car will give you just as good a ride with a much smaller payment. If you can try to do as much maintenance yourself to avoid expensive garage fees.

Do you buy lunch every day? A week of buying lunch out will buy you lunch groceries for a month and you will probably eat better. Go to grocery stores with customer incentive programs. These programs will save you hundreds of dollars a month.

Don’t pay credit card interest rates. If possible pay your card off every month. If you have multiple cards with large payments go to a bank and get a consolidation loan and pay them off. Then you can work off the debt at a much lower interest rate.

Piggy Bank

I have mentioned in other posts that if you have a company pension plan be sure to contribute the max you can every month. It’s a forced savings plan and it is easy to get used to the deduction. Always participate in the company health plan as long as you are employed there.

Tax time might provide some special benefits to you. Consult a tax specialist where you live and you might have tax breaks you were not aware of such as tax-deductible contributions or home business breaks.

These points listed above might sound harsh, but sacrifices might have to be made. This does mean you have to live like a hermit but scaling back could be necessary. Keep a positive attitude, eat well, exercise and work towards a goal of debt reduction.

Start Your Own Business

The start of your own business sets you on the path for financial empowerment. I have realized that getting financially independent does not happen working for someone else. When you are participating in a debt reduction program this is an opportunity to research business ideas. On path to take is a Work at Home Business that you can start while you are still working.


The home business opportunity that I would like to present to you is Wealthy Affiliate. If you have read my other posts you will already know what I am talking about.

Wealthy AffiliateWealthy Affiliate is an online university and campus that provides students with the training and guidance necessary to participate in affiliate marketing. It is comprehensive well laid out program that is flexible enough to incorporate into your daily routine while you are still employed. Affiliate Marketing is a relationship between you and a company or an Affiliate Marketing Platform. You sell their products with a website you create and in turn earn commissions.


I don’t know of any other institution where a student gets so much for the price. A person can try a starter membership seven day free trial. There is a bonus of getting the first month of Premium Membership for $19.00. Every month after that is $47.00 or the best price is the $359.00/ year full premium membership. There are no Upsells and the only other purchases will be some subscription items which are not necessary and Domains which will be necessary as you build your website or sites. Please click on this link that takes you to my”Wealthy Affiliate – The Key To Financial Freedom” page for more details

Affiliate MarketerI must tell you that affiliate marketing is a serious business. If you don’t work hard and apply the training it will not work. Any Post Secondary training requires effort to be successful. Income potential is entirely based on your own input and targeted market. There are 4 billion people on the internet and your job will be to sell to them.


An online business allows you to produce as much income as a brick and mortar business without the necessity to have staff, a building or inventory. There has never been a better time to start your own business .

Click on the Banner to Start

Getting into debt is easy, getting out requires a plan. Work at getting out of debt and then work on your financial future. Be a success story. If you have any questions or comments please leave them below.



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