These 5 methods can change that debt battle forever…


Tip of the week : Cleaning Up Debt

Money management focuses on understanding how to organize the financial aspect of life. Primarily maintaining the use of budgeting expenses, allocating earnings, and knowing when and what to invest into. Debt is a strong roadblock to that formula. Debt can add up quickly if money is not managed correctly. When money doesn’t seem readily available a loan or credit card seems like the next best thing. How does one take back their control over debt and start managing their finances?

Gather Information : The first step to take control back over bills, loans, and credit cards is reconnaissance on personal information. Get any and all “loan statements”, “credit reports”, and other amounts owned to people, friends, and family. Keep track of this by placing any information into spreadsheets. The more aware of the information the better a plan can be laid out for attacking any given situation. Know the interest rates, due dates, amounts, and options to handle each expense.

Wants vs Needs : Here comes the budgeting cutting. Time to list out what is an essential need verse those pesky desires we all want. Needs are food, shelter, water, and the bills which will help maintain a consistent motion forward. Everything else is a want in life and when it comes down to it those wants are not needed. Cutting out wants will easily afford a person more cash flow to place toward paying debt and bringing those financial barriers way down.

Transfers : For credit cards there are certain credit cards which allow 0% interest rates for 6 to 12 months. Do a bit of research to figure out which cards are available to do so. Take all credit card expenses and downsize them into one card with that 0% interest rate. This is not a highly recommended example as it is a method one must be on top of. If one payment is late it could bring the interest back up. Though this might be helpful start to get a good footing on credit card bills.

Smallest to the largest : Tackling smaller debt helps motivate action. Seeing a small debt vanish is an exciting accomplishment. Maintain minimums on all bills until the smaller bill is paid up. For every bill paid off, that its minimum and add it to the next smallest debt payment. It is being spent already and should be allocated into a personal overhead budget. This might be a smart move to keep using that money for the next debt, and so on. Debt will vanish in no time.

Debt management program : Calling up a local bank, or a representative at your personal bank, could lead to opportunities of a possible consolidating loan. Consolidating helps bring down those interest rates to a reasonable number. This method will also take away separate debt payments while taking multiple bills and placing them into one big payment. This makes paying off debt quick and easy. Utilizing the “smallest to the largest” rule and keeping payments going toward this one consolidated expense will give power back into anyone’s hands.


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If you need a little blurb “about me” here you go. But please, read it with an English Accent. Or a really bad Australian accent.

Originally a Musician playing with the band TENEbRAE for 10 years. Thomas J. Bellezza added Acting, Stand-Up Comedy, Directing, Writing, Producing, and Raising Capital into his life. Having owned a fully polished performance theater in Holbrook, NY he helped others open their shows including his own productions. He is a consultant for businesses and individuals focusing on the process of building success. His areas of expertise are in networking, marketing, management (time, money, and people), and finding solutions.

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