Early Mortgage Payoff – It Takes Discipline
By Alan Pavan
Early mortgage payoff requires you to be dedicated to the process of getting out of debt. Unfortunately most of us lack the discipline required to follow though until our mortgages have been paid off. Too many of us follow the creed of buy now and pay later. This lack of discipline gets us in trouble with unsustainable debt and makes it hard to reverse our debt outlook. Here are a few things we all can do to foster a culture of debt reduction discipline that will help to bring about success in early mortgage payoff.
- Organize your debt payment – Do you know when your debts are due? If not take time to schedule your debts. Place the dates on a calender. Are they overloaded at the beginning of the month? Or do they come at the end of the month? If you are paid twice a month, which payments can be taken care of with the first paycheck of the month? Which can be paid with the second paycheck? All of these questions will help you to organize your debt.
- Automate your debt payment – Most Banks now offer online payment for bills and most mortgage companies and credit card companies have online payment options. This is an incredible tool for those who are looking to get out of debt, including early mortgage payoff. All you need to do is set up a payment plan for each debt as well as your mortgage. You will need to assure that you have the funds available to avoid possible NSF charges, and then you will be in the fast lane toward paying of your debt.
- Avoid increasing your debt – Pay for your purchases with cash. Avoid the temptation to put everyday purchases on your credit card.
- Get Help – Sometimes support is necessary to maintain the discipline you need to reach your debt-free goals. Share your goals with your friends and family. Enroll in a debt reduction support forum. If you find it necessary you can even get professional support to help guide you through the rough spots. But remember the desire to get out of debt begins with you.
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The addiction to debt is as potent as the addiction to any drug. It gives the spender an exhilarating expectation of the purchase, a euphoric high when the purchase is made and almost always a huge psychological let down when the realization of reality hits. By following these suggestions you will begin create a culture of financial discipline that will serve you for years to come.
Alan Pavan invites you to discover the secret to your debt free future at: http://nodebt9.com
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