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    cally reduce your debts or consider declaring bankruptcy.

    4) Prioritise Debt Repayments

    If you've got more than one debt, it's important to erase debt according to the rate of interest charged. Get rid of the debts with the highest rate of interest first. That will help to reduce the amount of interest that you pay, and reduce that time taken to repay your debt. That's the reason why I suggested listing your debts according to the rate of interest.

    Take your "war chest" and deduct the minimum monthly payment for each of your debts. Once they've been paid, there won't
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    What's the best/fastest way to erase debt? That's one of the most common questions asked by people who owe money. So if you've asked yourself that question recently, here's a list of the steps that you can take to destroy your debt in the shortest period of time.

    1) Know How Much You Owe

    If you want to erase debt, you must know the overall size of your debt. So get together all your bills, statements and final demands. Open a spreadsheet or a pad of paper and add the following details;

    The amount owed to each of your lenders. This includes, credit cards, store cards, overdrafts, mortgages, personal loans and other bills. Leave nothing out. Write down the amount you owe, the monthly minimum payment, the interest rate (user the APR rate), any arrears and any penalties that are due.

    At this stage, it's a good idea to list your debts with the highest rate of interest at the top and the lowest rate at the foot. Use the rate of APR on each loan to sort them out instead of the actual monthly amount owed. For example, 18.9%, 16%, 12.3%, 7.9%, 6.2% etc

    As a general rule, store cards, credit cards and overdrafts will be at the top, personal loans in the middle and mortgages at the foot of your list.

    2) Work Out Your Monthly Income

    Add all sources of income, including income, fees, bonuses, overtime etc. If your income varies from month to month, work out the average monthly amount over the last year. You can do this by adding up all your income over the last 12 months and dividing by twelve.

    3) Set A Monthly Budget

    Start by writing down all your essential monthly expenses. This means basic food, basic clothing and a roof over your head. In short, the things you need to keep body and soul together. Anything else is a luxury.

    Once you know the amount you have to spend each month, it's a simple sum. Monthly income less monthly essential costs. And anything that's left must be used to erase debt. Once you know the monthly amount you have to eliminate your debts, you'll find it easier to decide how much to pay towards each of your debts. This is your "war chest" to erase debt.

    If you've reached the stage where you don't have any money left after your essential living expenses and you can't cut any more costs, your only chance to get out of debt is to persuade your creditors to dramatically reduce your debts or consider declaring bankruptcy.

    4) Prioritise Debt Repayments

    If you've got more than one debt, it's important to erase debt according to the rate of interest charged. Get rid of the debts with the highest rate of interest first. That will help to reduce the amount of interest that you pay, and reduce that time taken to repay your debt. That's the reason why I suggested listing your debts according to the rate of interest.

    Take your "war chest" and deduct the minimum monthly payment for each of your debts. Once they've been paid, there won't
    Role Of Metrics In Decision Making And Management
    Information is power. In most cases, information is made up of building blocks of numbers. These numbers, when arranged in a meaningful way, tell a story and that is the information that is useful to businesses as well as individuals. The numbers and the ratios that are used to construct meaningful information is commonly referred to as Metrics. This note is a brief introduction to the role numbers and metrics have come to play in every day life. Metrics for a web-based businessBeing involved with a web-based business myself, I can vouch for the importance of web-statistics for a web based bu
    overdrafts, mortgages, personal loans and other bills. Leave nothing out. Write down the amount you owe, the monthly minimum payment, the interest rate (user the APR rate), any arrears and any penalties that are due.

    At this stage, it's a good idea to list your debts with the highest rate of interest at the top and the lowest rate at the foot. Use the rate of APR on each loan to sort them out instead of the actual monthly amount owed. For example, 18.9%, 16%, 12.3%, 7.9%, 6.2% etc

    As a general rule, store cards, credit cards and overdrafts will be at the top, personal loans in the middle and mortgages at the foot of your list.

    2) Work Out Your Monthly Income

    Add all sources of income, including income, fees, bonuses, overtime etc. If your income varies from month to month, work out the average monthly amount over the last year. You can do this by adding up all your income over the last 12 months and dividing by twelve.

    3) Set A Monthly Budget

    Start by writing down all your essential monthly expenses. This means basic food, basic clothing and a roof over your head. In short, the things you need to keep body and soul together. Anything else is a luxury.

    Once you know the amount you have to spend each month, it's a simple sum. Monthly income less monthly essential costs. And anything that's left must be used to erase debt. Once you know the monthly amount you have to eliminate your debts, you'll find it easier to decide how much to pay towards each of your debts. This is your "war chest" to erase debt.

    If you've reached the stage where you don't have any money left after your essential living expenses and you can't cut any more costs, your only chance to get out of debt is to persuade your creditors to dramatically reduce your debts or consider declaring bankruptcy.

    4) Prioritise Debt Repayments

    If you've got more than one debt, it's important to erase debt according to the rate of interest charged. Get rid of the debts with the highest rate of interest first. That will help to reduce the amount of interest that you pay, and reduce that time taken to repay your debt. That's the reason why I suggested listing your debts according to the rate of interest.

    Take your "war chest" and deduct the minimum monthly payment for each of your debts. Once they've been paid, there won't
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    ddle and mortgages at the foot of your list.

    2) Work Out Your Monthly Income

    Add all sources of income, including income, fees, bonuses, overtime etc. If your income varies from month to month, work out the average monthly amount over the last year. You can do this by adding up all your income over the last 12 months and dividing by twelve.

    3) Set A Monthly Budget

    Start by writing down all your essential monthly expenses. This means basic food, basic clothing and a roof over your head. In short, the things you need to keep body and soul together. Anything else is a luxury.

    Once you know the amount you have to spend each month, it's a simple sum. Monthly income less monthly essential costs. And anything that's left must be used to erase debt. Once you know the monthly amount you have to eliminate your debts, you'll find it easier to decide how much to pay towards each of your debts. This is your "war chest" to erase debt.

    If you've reached the stage where you don't have any money left after your essential living expenses and you can't cut any more costs, your only chance to get out of debt is to persuade your creditors to dramatically reduce your debts or consider declaring bankruptcy.

    4) Prioritise Debt Repayments

    If you've got more than one debt, it's important to erase debt according to the rate of interest charged. Get rid of the debts with the highest rate of interest first. That will help to reduce the amount of interest that you pay, and reduce that time taken to repay your debt. That's the reason why I suggested listing your debts according to the rate of interest.

    Take your "war chest" and deduct the minimum monthly payment for each of your debts. Once they've been paid, there won't
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    ything else is a luxury.

    Once you know the amount you have to spend each month, it's a simple sum. Monthly income less monthly essential costs. And anything that's left must be used to erase debt. Once you know the monthly amount you have to eliminate your debts, you'll find it easier to decide how much to pay towards each of your debts. This is your "war chest" to erase debt.

    If you've reached the stage where you don't have any money left after your essential living expenses and you can't cut any more costs, your only chance to get out of debt is to persuade your creditors to dramatically reduce your debts or consider declaring bankruptcy.

    4) Prioritise Debt Repayments

    If you've got more than one debt, it's important to erase debt according to the rate of interest charged. Get rid of the debts with the highest rate of interest first. That will help to reduce the amount of interest that you pay, and reduce that time taken to repay your debt. That's the reason why I suggested listing your debts according to the rate of interest.

    Take your "war chest" and deduct the minimum monthly payment for each of your debts. Once they've been paid, there won't
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    cally reduce your debts or consider declaring bankruptcy.

    4) Prioritise Debt Repayments

    If you've got more than one debt, it's important to erase debt according to the rate of interest charged. Get rid of the debts with the highest rate of interest first. That will help to reduce the amount of interest that you pay, and reduce that time taken to repay your debt. That's the reason why I suggested listing your debts according to the rate of interest.

    Take your "war chest" and deduct the minimum monthly payment for each of your debts. Once they've been paid, there won't be any risk of falling further into arrears for the next month at least. The rest of your war chest can then be paid towards your debt at the top of your list. Keep going in this manner until you erase debt number one. Every debt you repay will give you added confidence and help motivate you towards your final goal. Debt freedom!

    Then, move onto the next debt on your list. Again remembering to pay the minimum on the rest of your debts and using the rest of your war chest to erase debt number two. Just keep going until each of your debts is ticked off one by one. As time passes and your debts start to disappear, the remaining debts should be paid off in a shorter space of time.

    5) Negotiate A Lower Interest Rate

    One of the best ways to speed up step 4 above, is to contact your lenders and ask them to reduce the interest rate on the money that you owe them. Due to the fierce competition between lenders for your business, many companies may reduce the interest rate on your debt just to keep your business.

    If they refuse, just move some or all of your debts elsewhere. Many companies have special offers and introductory rates from time to time. But however you manage to reduce your interest rate, it will help you to erase debt faster. Just remember to reorganise your list of debts so that the debts with the highest rate of interest are still at the top.

    6) Be Realistic

    If your debts are substantial it will take time to repay them in full. It might be months or even years. But whatever happens don't expect them to disappear overnight. If you do, there's a much greater chance that you'll lose heart and give up on your quest to become debt free. Don't allow that to happen. Set a realistic timescale to achieve financial freedom and focus on that. Make a plan and stick to it, because your life will improve beyond compare from the moment you make that last repayment.

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