The Motley Fool's Get Out of Debt Seminar

Debt. It's the enemy. It's sneaky, tempting, and can pile up unbelievably fast.

Speaking from personal experience, it's incredibly easy to get yourself into debt trouble. It's also very possible to get out of it, although it takes a bit more work (and self-discipline).

Today's FamilyFirst pick is The Motley Fool's Get Out of Debt Seminar. The Motley Fool, first started on AOL many years ago, is a financial site for the common man. They take difficult economic concepts and simplify them for dummies like me.

The seminar is five short articles, but they pack a lot of wallop.

Lesson One shows that debt problems can happen to anybody. You learn how to use compound interest to your advantage (instead of the credit card companies'). You also learn that there are “good” debts and bad ones.

Lesson Two tells you six steps to beat credit card debt.

Lesson Three introduces you to the concept of having a budget.

Lesson Four shows potential setbacks, and how to avoid them. For instance, loan consolidation may be a good idea, or it may make things worse. Find out if it's for you.

Lesson Five tells you how to negotiate with credit card companies, what your rights are, and selecting a credit counseling service.

ESPECIALLY pay attention to selecting a credit counselor. I used a non-profit counselor that provided me (and my kids, when they got their first jobs) with an amazing education on how to control your money and build up wealth from modest means.

So take advantage of today's FamilyFirst site, and get yourself out of debt!

Click here

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