How to Get Out of Debt (Video)

A simple little explanation of a strategy on how to get yourself out of debt from our friends over at CNN Money.

Given the response I got from my post the Top 5 Reasons You are in Debt, and how folks thought it was such a revelation, I include this short video explaining a simple strategy on how to get out of debt.

I am not espousing going out and getting into debt, but if you find yourself in this unenviable position this simple video explains the steps you should take to get out of debt.  The first step is the revolutionary statement I made last week which is Spend Less than You Earn (I should get that copyrighted).

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  • Rachel Levington June 26, 2011, 1:02 PM

    Paying off your debt as soon as possible is certainly always better to avoid high finance charges. A debt settlement plan could be another option or possibly a consumer proposal, which offers legal protection as well. However, finding a licensed bankruptcy trustee would be advisable for starters if considering a consumer proposal.

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