From The Desk Of:

Justus Meyer,
Port Elizabeth, South Africa

Debt Reduction

"The truth about
how to reduce your debt
and take control of your

Spending habits

Debt reduction or debt elimination usually happens after making an effort to change your spending habits. Like anything in life, you have to decide what you want and if it is worth putting in the effort to get...

For instance, see if this decision sounds familliar: "No more debt", or "that really nice flat-screen television I have been waiting for, for so long?"

If you look back, then the odds are that your spending habits are exactly what got you into trouble in the first place. It always seems like no matter how much money you make, your spending always seems to catch up with your income.

Why is that? Who controls what you buy? Is all of it necessary - or is some of it just really convenient?

Click here to look at a video to get a fairly good idea of what I am talking about.

Did your parents survive without it? Did their parents survive without it? And theirs? I'm willing to bet that you ancestors have survived over 4000 years without buying what you are looking to buy...

The point is that needing something and justifying your need for that something are two very different things.

Again, fun and entertainment are important - but what is more important? Having fun, or being relaxed and debt-free?

There is good news and bad news... The bad news, is that reading a Web-site will not solve this for you. You have to decide, definitively, that you want to get out of debt.

However, its not just a normal decision where you tell yourself: "I am definitely getting of debt soon!" It might take a while to take root - you might want it badly enough, but for you, it might need to get to the point where you simply can't stand it anymore, but know exactly what to do about it!

And that's the key - you need to know exactly what to do about it! It starts with admitting that you and not your income, are the problem.

Once you do that, you can start to take control and do something about it.

And that is the next step: do something about it!

Pay yourself first

One strategy to counter your (and my!) inherent human nature, is to pay yourself first. Instead of paying your bills immediately, take some of your money as soon as you get it and transfer it into an investment account that you can't touch for at least a month.

This will put you on the offensive and suddenly strengthen your resources to fight your debt - even if you are still just paying your loans as usual. Not only that, but you have solidly increased your net-worth - even if its just by a little bit! Remember that everything takes time - and the sooner you start, the quicker you will finish.

Extra income

Sometimes we find ourselves so deep in debt, that paying ourselves first seems impossible. The obvious solution is to generate multiple income streams, but shouldn't we just stick to our job and pay it off gradually?

Well, that depends... How badly do you want debt-relief? Unfortunately, there is no easy answer. Debt-reduction is hard work - you either suck it up, or ship out... You are knowledgeable enough to know that you need to try and find an answer and I commend that - however, that also makes you smart enough to know that you can learn some additional skills and habits!

Are you willing to put in the effort? Take heart in the fact that most entrepreneurs have found themselves in the same situation as you at some point in their pasts. Most of us have dealt with horror of bills creeping up and baring their teeth...

Rememberm, bills are simply that: threatening pieces of paper. The real problem starts when the sheriff shows up! Again: The quicker you take action, the exactly what to do... Read as much as you can, but be careful not to use it as an excuse to procrastinate. I have experienced the stress of debt myself and will update this section with all the resources that I can find to help you - when I find them.

Check back regularly to see what new links I have added to the section below and take action now!


  • is a very good resource created by Ken Lee and made using Site BuildIt!. Go here for more tips and ideas on how to reduce your debt!

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