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Many people desire to get out of debt. The problem is most people are so overwhelmed by financial burdens they don't have a clue where to start. A large majority of Americans are consumed by outstanding debts. They spend considerable time worrying about how they are going to make ends meet. They are afraid of losing their job, their home or their health.

In today's shaky economy it is hard to get out of debt; but, that doesn't mean it can't be accomplished. If your dollars are stretched so tight you can't squeeze out an extra penny, it is time to take a serious look at your finances otherwise you won't avoid installment loans guaranteed from tribal lenders.

Unless you are living in poverty chances are you have more money than you realize. The vast majority of Americans spend more than they earn on things they really don't need. They max out their credit cards, deplete their savings account and borrow money to pay their bills.

It is sad to say, but the majority of Americans are wasteful spenders. We want everything now and we want it ALL! The latest techno gadget, designer suit, sleek car and million-dollar mansion. As my mom would say, "We're living champagne lifestyles on a beer budget."

The thing is, times are changing and the credit crunch is going to create a money crisis this country has never seen. From this point forward, lenders will be keeping a tighter rein on the money they loan. Credit will become increasingly more difficult to obtain.

Consumers may soon find their credit card companies lowering their credit line. Others will be cut off completely. If you are using credit cards to pay for daily living expenses, you may quickly find yourself in dire financial straits.

While it may appear to be all gloom and doom, you can take charge of your finances and get out of debt. Chances are it won't happen overnight. Tightening the financial belt might cause a little pain. Sacrifices will have to be made. However, it will all be worth it in the end because there is no better feeling than being debt-free.

Budgeting is by far the most effective and affordable way to get out of debt. Remember when your parents placed money in envelopes to pay their monthly bills? This method still works well today. With today's modern technology, most banks offer budgeting tools directly on their website. Banking software allows you to setup "virtual envelopes" for household expenses.

If you aren't techno-savvy, a piece a paper and pen can provide the same results. Simply draw a line down the middle of the paper. Write down your total monthly household income on one side and expenses on the other. If your expenses are higher than your income you are living a champagne lifestyle and it's time to put a cork in your spending habits.

After reviewing your finances, you will need to create a get out of debt plan. Financial expert, Dave Ramsey provides exceptional information on debt elimination. His website is filled with real-life advice geared toward average, hard working Americans who are trying to get out of debt. In addition to Ramsey's website, the Internet offers a wealth of information on budgeting and debt reduction.

Debt is not your friend and credit is your worst enemy. Interest rates can add up to thousands of wasted dollars. Wasteful spending can rob you of your future. With today's economic crisis it has never been more important to take control of your finances. Invest in your future today by taking time to locate resources available to help you get out of debt and stay out of debt.

Simon Volkov is a private investor who specializes in helping individuals facing foreclosure and bankruptcy. Simon's website offers a comprehensive get out of debt library focused on debt reduction, bankruptcy, personal money management and investing. Learn more by visiting www.SimonVolkov.com.

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