Playing Mission Impossible (Part I)

This is the first part of mission impossible game. Try to win the game at the end. If you follow each step seriously, you will achieve your goal eventually.

Credit card debt elimination seems like mission impossible where there are no winners. Well, let’s play this game and see if we can win or lose. Whatever the result is, we will achieve at least one of our goals.

The game contains five steps, each one has a challenge and we should accept any thing in order to get what we want. Let’s stat our game with a lot of self confidence!

First – Collect all your credit cards in one file: If you are serious about credit card debt elimination, then the first thing you should do is to gather all your credit card statements together.

Your mission in this step is creating a debt elimination spreadsheet. How does this tool help us to win the game?

This spreadsheet is an organized way to note how much you owe on each credit card, the interest rate and when exactly you should pay off that credit. Finish this step and move to the next when you become ready…

Second – Determine your ability to pay: Time to form your game plan. In this step, you should know how much you can afford each month, add up all of your monthly expenses, and then deduct the sum from your income and see what’s left for you.

Here is your mission: build a savings account, a retirement account, an emergencies funds, and unexpected things account. So your plan should include as more savings accounts as possible.

Are you done?! Let’s continue our journey…

Third – Collecting all your minimum monthly payments together: Add up all your minimum monthly payments together and see if you can afford them or not.

For instance, you can afford $350 each month, so if your credit card allocation were $350 each month, you’d be in okay shape so far. However, if your minimum monthly payments were $400 and you could only afford $350, then you have a serious problem.

Be patient, your mission become harder. In this step you have to start cutting out expenses if you need that. It’s easy to say, but hard to do. You should take some serious steps towards controlling your spending habits.

Continue the game >>>

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