- October 13, 2013
- Posted by: admin
- Categories: Credit score, DebtFarewell, Financial Disaster, Financial Ideas
You must have read and heard about the “divide and conquer” strategy while attending the history classes. You must have attended numerous lectures on “divide and conquer” strategy and written several paragraphs on it in your exams. So, you know it very well that this strategy is mainly used by military to win fierce battles. However, are you aware that this very strategy can be used to kill your biggest enemy of your life?
Yes, believe it or not, the “divide and conquer” strategy can be used to defeat the biggest enemy of your life – debt. All you need to do is use this strategy to do some agonizing tasks in your life and you’ll be able to enjoy the sweet essence of success.
Divide and conquer – How this strategy actually works
This strategy is especially effective when you’re dealing with a mighty enemy like debt. Here, you don’t face and combat with the enemy head on. Instead, what you try to do is, divide the enemy into several small units. The reason is, it is much easier to defeat the smaller units rather than a big unit.
Read below to know how you can apply the same strategy to get mighty victory over debt with the following strategies:
1. Eliminate your credit card debts: Have you amassed a lot of unsecured debt simply because you couldn’t resist temptations to buy all the goodies through credit cards? Are you hitting your head hard against the wall because of your careless financial mistakes? Well, you’ve committed a grave mistake by using credit cards unnecessarily. You’re in the quagmire of debt because of your lack of financial intelligence. However, this is not the end of your life. You can still get out of the massive credit card without wasting an extra second.
Calculate how much you have to pay on your credit cards. Let’s say you have accumulated a debt of around $4000. Now, it may not be possible for you to pay the entire amount right now. So, what can you do at this stage? The answer is “divide and conquer”.
You should start making payments on the debt so that it comes to a manageable amount slowly and steadily. Try to earn more through part-time jobs. Even an additional $350 will help you a lot.
Next, take steps to reduce your expenditures. Save money so that you can use it to reduce your debt burden gradually.
2. Surviving a counseling session – You’ve to go through a counseling session wherein you’ll get an evaluation of your financial situation. However, you really don’t want to attend the session and answer all the financial questions that a credit counselor will ask you. Nevertheless, you can’t avoid this session also. The credit counselor may be able to give answers and solutions to your financial problems. So, this is the correct time to apply the divide and conquer strategy.
Find out how long the credit counseling session will last. This is not a family function from where you can escape quickly. So, break the total session into 30 minutes. You can set a reminder for every 30 minutes in your cell phone. Once 30 minutes are over, take a break and go to the washroom. You can even check out your text messages in your cell phone so as to divert your mind. As you survive each 30 minute slowly, you’re able to take one step ahead to complete the entire counseling session. This in turn is good for you since it will help you get over your financial problems finally.
So, now you know that “divide and conquer” strategy is really good. This strategy is powerful and effective. All you need to do is use the strategy at the right time and right place. You’ll see that it is not that tough to beat the debt monster successfully.