Debt is at the heart of the wallet. From the time young children are taught about money, they see commercials, advertisements and signs all around them telling them to charge everything they could ever want on credit cards, with loans and lines of credit. From cars to homes, there are few things that are bought today that can be paid for outright. This creates debt and the need for debt elimination and becoming debt free.



Debt elimination is the art of taking a life full of debt and moving that life past the point of owing and into the point of owning. Debt elimination can mean less stress, an overall happier life and more money in your pocket. Here are the top 5 tips to debt elimination and becoming debt free.

Cash Only - Cash is the currency that seems to be moving to the wayside for the use of cards, loans and credit. At the heart of a debt free lifestyle is debt elimination be not creating new debt. This means keeping your life in a debt free place by not creating any debt by purchasing something you can not pay for 100% at the time of purchase. Debt free life and debt elimination is about buying what you can afford right now, not what you can afford monthly.

Lose the Credit Cards - Those controlling credit cards can go out the door from the first day you choose to be debt free. Life in the debt elimination mode does not mean charging less money no a card, it means paying for everything and charging nothing. The only way to ensure the debt free lifestyle and eliminate debt is to remove the lure of the credit.

Minimum Payments Will Not Work - The credit card you used to charge the world away, is the nemesis to your debt free life and debt elimination. Those minimum payments are all interest and in order to choose debt elimination, those need to be taken care of immediately. The paying off of a credit card will require a larger than minimum payment and a lot of willpower. Becoming debt free was never going to be easy, but debt elimination feels good in the end.

Don't Think Monthly - Too many people think about life in monthly payments. Debt free means leaving those monthly payments behind, so think total cost and stay on the debt elimination path.

Never File Bankruptcy - Bankruptcy will hurt more than help. There are slow fixes for debt that can make anyone debt free. It just takes time and determination to remain free from debt, to choose debt elimination and to live debt free.

There was a time in life when debt free was the only way to live. Since then, the world has been taken over by the interest rate. Just as we learned to live outside of our means, we can learn to eliminate debt ad live debt free. A debt free lifestyle and debt elimination is there for the taking, we just have to want to be debt free.