General Information

If you ask me for one Best Financial advise during the time of Recession than it is - “Escape the Debt Trap”.

Yes…. Debt is a Trap and you should get out of the Debt trap as soon as possible means NOW…!!!! Because Debt is designed to make you hold in the economy and work like a slave in the economy. And that’s why Banks & Financial Institutes offer you varieties of Debts such as Home Loan, Personal Loans, Car Loans, Credit Cards and many other types of Loans.

So until you pay off, all of your Debts, You can’t take retirement and escape from the economy. Countries like USA, offer debts very freely to everyone because once a US Citizen takes a Debt, He has to work like a Slave in the Economy to repay that Debt and the second advantage is that, as long as that Individual will work in the economy, he/she has to pay taxes.

So Debt is a very dangerous Disease.

So How to Escape the Debt Trap? -

Well, there are many books written on ‘How to Escape from the Debt Trap?” Here are few advises from such books.

- Build an Emergency Fund
- Increase your working hours. Do Over time or part time jobs to repay your Debt
- Use Debt Snowball method to repay the Debt
- Cut Down all of your Credit Cards
- First of all Stop Borrowing Money from anyone.
- Cut Down your un necessary and Entertainment Expenses and divert those expenses towards paying off your Debt
- Take a Debt Help or the help of Debt Counseling Services

So follow the all of the above things and “Get Out of Debt” as early as possible and enjoy Financially Free Life….!!!!