Step 1: Commit to eliminating your debts.

Sounds easy, but it isn't. Depending upon how much debt you have, it could take several years, and significant discipline. However, the rewards are well worth it. To motivate you, consider this. If you make $50,000 per year and could eliminate your $300 per month car payment, that would be the same as giving yourself a 7.2% raise. Imaging how much bigger your paycheck would feel if you also had no credit card debt. Now, imagine your mortgage gone. In my case, all these added up to around a 50% increase in take-home pay without relying on anyone else but me. Further, imagine how much less stressful your job would be if you didn’t have to worry about losing your house or belongings. When you don’t owe money, you are in control.

So, commit to eliminating your debts, today. Write it down and post it where you will see it often. Then, tell someone about your commitment. Ask them to make the journey with you, or go find a group of folks that are already working to be debt free and ask if you can join them. Make it public. The more The more people that know about your commitment, the more likely you are to stick with your plan and succeed.

Need more in-depth help? Click here to see more information about the "Debt-To-Wealth" debt elimination program.