How to get out of debt?

Everyone desires to lead a debt free life but we need to learn how to get out of debt?

I wrote many posts about tips, advice and ideas from different sites, because the aim of the site is to provide you stuff which could help you. May be the tips for debt, credit or other money/finance related matters, are sometimes same, but we don't know which tip or advice could change our whole life. Getting advice and tips from experts or suffered people who are trying to get out of debt or could successfully do it, are good examples for us. We can learn a lot from them.

This tutorial is from "tutorial.com" which sells tutorials and online courses. It also offers few tutorials FREE of cost. "Learn to get out of debt" is one of those free tutorials. Sometimes very simple tutorials are sufficient for us to solve our critical situations. So the way tutorial is written is very easy to follow.

I am providing you excerpt from only first part, if you think that it works for you, you can read the 4 more steps. I have given links to more FREE tutorials from the site at the bottom of the post.

"Learn2 Get Out of Debt"

Lend yourself a helping hand: You need to take control of your finances--before they take control of you. Remember that you're consolidating now so your financial life will be simpler in the future.
Calculate your total debt: make a list of everything, including credit cards, personal loans, auto loans, and student loans. Don't forget to include all your outstanding home and utility bills, and any money you might owe friends and family.

Now, make a worksheet showing these outstanding balances plus any interest rates or managerial fees that apply. You'll also want to separately list your assets, including all savings, property, and investments.

Next, you'll need to compare what you owe against your net monthly pay (after taxes). In a perfect world, your debt is considered manageable if the total (not including your mortgage) is less than 20 percent of your net pay. If your debt totals more than 20 percent, don't panic--that's why you're reading this 2torial.

Note: If your debt is 80 percent of your income or more, your financial situation is very serious. It's time to get a second job or, as a very last resort, consider filing for bankruptcy. It's important to realize, however, that bankruptcy stays on your credit record for ten years, so you should consider every option available to you before taking this drastic route.

More free tutorials: (Each tutorial has links to more tutorials, so check the right side bar)

- Continue reading step 2

- Balance Your Checkbook

- Calculate Utility Costs

- Negotiate a Raise

- Calculate Tips

Lease a Car