What is the best debt relief plan?
We’ve discussed marketing, keeping personal information safe. But what about debt? That is something I don’t hear a lot of business owners openly discussing. As a blogger and business owner, not to mention wife and mom, I know all about debt. I also know how easy it is to get into it.
Running a home and running a business both take a lot of money. It is so easy to get in over your head when it comes to finances. At home, Dr. bills can add up, utility bills can add up, school clothes, food, rent or mortgage, vehicle payments and car and health and homeowners or renters insurance. For a business, just starting out can put you in debt with the amount of money needed for start up costs. If you have a brick and mortar business, you have the expense of the building and any utilities and insurance needed for it as well as maintenance, marketing, advertising, etc. . If you sell a physical product, you have the cost of producing it.
The list goes on and on. But what about a debt relief plan? My husband and I SWORE off credit cards. We vowed to never have another one. It is way to easy to purchase something big if you have a lump of credit laying around but it is a lot harder to make those payments and pay it off. So we decided that if we don’t have the funds, we either save up until we do or that expense will just have to pass us by. And we paid off our early marriage debt little by little.
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Do you have a debt relief plan?