It is not rocket science to achieve wealth. In order to acquire wealth you simply have to spend less money than what you make. In these days of corporate greed and government oversight, a person has to work very hard to out maneuver their burden of debt.
In the United States, people are in debt to the sum of $6.7 trillion dollars. This debt is composed of credit cards, mortgage loans, student loans and car loans. This debt is increasing by $2 billion dollars a day, just in interest!
Debt in this country has reached epidemic proportions. It is like a disease that is spreading out of control, and even taking innocent lives! Instead of finding a cure, the government looks the other way and ignores the problem. Our elected officials make excuses to protect their banking buddies, who helped in their campaigns to get them elected.
The art of wealth building is to get debt under control. The biggest problem with debt is the compounding interest on the balances. Albert Einstein is attributed in saying that compound interest is the most powerful force in the universe. But knowledge can also be a force of power to counter the compounding effect interest plays in keeping a person in debt.
There are several programs available to the average citizen to reduce debt, and in some cases almost totally eliminate it. I will be discussing these programs, as well as other ways to ensure the success of building wealth, and becoming debt free. Armed with knowledge, debt will become just a minor obstacle in the path of total freedom from debt.
Isnt it time we reverse this trend and get back on track in controlling our spiraling debt? In order to start taking control you must first analyze your particular situation, since everyones problem is a little different. The place to start is finding out your “net worth”.
Your net worth is a means of understanding your debt. Without understanding your debt, you have no way of reaching debt elimination. Therefore, this is basically a snapshot of your financial status. Once the financial status is determined, then the road to recovery will be easier to diagnose and begin. As a road map will direct you to the promise land, so will this snapshot of your net worth take you.
In my next article I will show you exactly how to figure your “net worth”. By building a spreadsheet to determine your net worth, a person will be armed with a road map of where they are at. By having a starting point, I will then discuss various ways of getting control of this debt. In some cases, you will have the means of eliminating this debt, once and for all.
Author:
Kenneth Merrick of
Merrick Global Industries
I have been in Internet Marketing since 2003. I started in eBay, but from there expanded to building my wife her own website, as well as affiliate and joint ventures online. I understand the concept of wealth building, and by creating multiple streams of income, I am able to get control of my debt and slowly eliminate it. I would like to share my knowledge and experience with others so they too may live the American Dream…of living debt free by taking control!
I currently operate two websites, http://ecommercemakemoneysolutions.com, a website dedicated to reviewing ways of making money utilizing the Internet; and http://fidelitymerchantsolutions.net, a website dedicated to providing better merchant services to retail, restaurants, motels, ecommerce, mo/to, wireless, and Iphone/Iswype technologies. I welcome one and all to come see and get control of your debt by saving money.
Kenneth Merrick of
Merrick Global Industries
I have been in Internet Marketing since 2003. I started in eBay, but from there expanded to building my wife her own website, as well as affiliate and joint ventures online. I understand the concept of wealth building, and by creating multiple streams of income, I am able to get control of my debt and slowly eliminate it. I would like to share my knowledge and experience with others so they too may live the American Dream…of living debt free by taking control!
I currently operate two websites, http://ecommercemakemoneysolutions.com, a website dedicated to reviewing ways of making money utilizing the Internet; and http://fidelitymerchantsolutions.net, a website dedicated to providing better merchant services to retail, restaurants, motels, ecommerce, mo/to, wireless, and Iphone/Iswype technologies. I welcome one and all to come see and get control of your debt by saving money.
