Think about the thousands you’ve already spent attempting to pay down debt. How many more thousands will you spend if you continue to pay the minimums? If instead you wiped out your debt today and put that money aside, slowly but surely, you can have a fortune.
 
Now consider the long term consequences of staying in debt. Once you’ve thought this through, you’ll realize that not only can you change your life, but you have to do before it’s too late.
 
So with that in mind, here are the top five reasons you must get out of debt now….
 

5. IF YOU DON’T SAVE FOR RETIREMENT, WHO WILL PROVIDE FOR YOU?

Have you ever thought about your life after you turn 60? If you have, you’ve probably imagined having free time to pursue your hobbies; spending time with your grandchildren, and; traveling the world with your spouse. That’s the way it should be.
 
But, will you be able to afford it? Let’s face it, nothing get cheaper when you retire, except a bus ride. If you’re counting on social security (SSI), I’ve got bad news. It doesn’t pay much. And if you’re 40 or younger, SSI is just about broke and may not be there for you at all.
 
Even if SSI continues, the recommendations to save it include increasing the age of retirement to 70 and decreasing the level of benefits. Want to work until your 70? Will you be able to?
 
More importantly, do you want to retire with constant debt problems? If you’re counting on SSI as your only income, chances are you will. Imagine spending your golden years waking up to daily debt collector harassment and lawsuits. Sounds lovely right?
 
But, it’s not too late to start putting away a portion of your paycheck to build a nestegg. If you get out of debt now, you’ll have the money to do so. Over the course of 20 – 30 years that money you set aside should grow to allow you to live comfortably.
 

4. WITHOUT A COLLEGE FUND YOUR CHILDREN WILL END UP DEEPLY IN DEBT!

Statistics show that the best shot your kids will have at steady employment and a decent wage is a college education. That’s especially the case in this economy where low tech jobs are shipped to China and where an unemployment rate of 10% – 20% may become permanent.
 
But college costs an arm and a leg and it’s getting more expensive every year. While the overall inflation rate since 1986 was 107.05%, for education the inflation rate was 466.80%. At that rate, economists predict the cost of attending a state college will reach $120,000 by 2015.
 
Sure, your children could take out student loans, but they’ll be doomed to start off life heavily in debt. That starts a vicious cycle. Because they are paying their student loans, they may have to take on other debt to meet their basic needs. Pretty soon, they’re in the same boat as you.
 
A smarter plan is to look at your kids and then your credit cards and decide who you love more. If it’s your kids, get out of debt and start a college savings account for them, called a 529 plan. You’ll even get generous tax breaks for doing so!!!
 
That way, your kids will start off life with a leg up and the least amount of debt possible. Even better, they won’t have to live with you until they’re 40. So get out of debt and use the money you’re wasting on debt to fund a brighter future for your children.
 

3. IT’S A QUESTION OF LIFE & DEATH – DOES YOUR FAMILY HAVE HEALTH INSURANCE?

There’s nothing more vital to your family’s financial and physical well being than health insurance. For most people, health insurance can be purchased for a couple hundred dollars. Do you have health insurance? If you don’t, could you afford it if you got out of debt?
 
Without health insurance, you’re more likely to ignore small health problems to avoid a doctor bill. Small problems may become big problem until what once was treatable becomes untreatable. So if you don’t have health insurance, you’re likely putting your life at risk.
 
Not only that, but you’re also putting your savings, home, and other property at risk. With today’s high medical costs, if you have an illness and are uninsured, your home, car, and life’s savings could soon be taken from you to pay the hospital bills.
 
Once again, look at your family and then look at the greedy banks. Who do you love more? If it’s your family, get out of debt and protect them with health insurance.
 

2. DO YOU WANT TO STAY MARRIED OR WOULD YOU RATHER “VISIT” WITH YOUR CHILDREN

What’s the number one reason people cite as the cause of their divorce? You guessed it… financial troubles. It’s easy to see why. When you have debt problems, you’re stressed from the morning until the night. The pressure builds all day long with the calls, letters and threats.
 
At some point, you’re going to blow, and that’s usually at your family. You begin to see your family as the cause of your stress and problems. But, are they really? Or are you really stressed because the banks are leaving you with nothing to support your family?
 
Let’s face it, if the banks weren’t taking your money, you’d probably have enough to provide for your family. You could afford to buy them food, clothing, toys, and to take them on vacation. Your stress would be over.
 
If you don’t do something now to repair the damage that debt has caused to your family life, you may never have a second chance. Someday soon you may be talking to your ex-spouse through an attorney and “visiting” with your children. Don’t wait for that to happen.
 
I’ll say it one final time. Look at the greedy banks and then look at your family. Who do you love more?
 

1. BECAUSE IT’S ONLY FAIR

Have you ever stopped to consider how much you actually borrowed from the credit card and how much you’ve already paid them back? If you have, you’ve probably discovered that the credit card’s been paid in full two or three times over.
 
Yet oddly enough they still say you owe them more, more and more. Does that make any sense?
 
Does it make any sense that when you can least afford to pay them, they increase your monthly payments and charge you every kind of fee they can think of? That when you call them to negotiate a reasonable payment plan they won’t work with you.
 
It does make sense to me. The credit cards never want to let you out of debt. You’re easy money to them. They lent you one dollar, you paid them three, and they still say you owe them more. No wonder they’ll do anything to scare you into staying on the ride.
 
Well here’s your chance to say “I’ve had enough of your games. I’ve been more than fair to you, and now it’s time that I’m fair to myself and my family.” Get out of debt once and for all and start using your money to build a brighter future for yourself and your loved ones.