In the previous part of debt elimination secrets, you saw that how practicing a little frugality can actually save hundreds of dollars for you every month. You are now just four steps away from paying off all your credit card debts. In this part, we will first try to arrange for some more money and then we will move on to make the final debt repayment plan. So, here it goes.

Step VI -The Big Sell Off: Get Some More Risk-Free Money
Liquidate some of your unnecessary possessions. If you are still short of money, selling unused items is the best way to get some more risk-free money. When the nasty rap of credit card debts hits you and you lose control over your finances, you should respond with strength to take rapid action so that you could get things back on the right track as soon as possible. Selling off stuff that you don't really need is one of the smartest ways to act. You must learn to detest clutter.

What do you think about that 2,000 CD or 500 DVD collections of yours? It is obviously a reminder of how foolishly you've spent your hard earned money. But, more importantly, for now, you may be glad to see that some significant cash value is just sitting right there. So, what are you waiting for? Turn this clutter into cash and reduce some of your burden. There was a friend of mine who did a big sell off last month, getting rid of a small mountain of baseball cards, 300 DVDs, over a thousand CDs, 50 odd games, 5 video game consoles, some sports equipment, books, magazines, some high-value individual trading cards, a couple of CD or DVD box sets, and lots of other miscellaneous odds and ends. He got some significant cash for all his stuff and used the same towards debt elimination, and to my surprise, he was able to eliminate a sizable portion of credit card debts in one swoop. That's why I am recommending this to you as well - go for a big sell off. You'll be surprised.

The best thing is that you can also sell these items online through auction sites. This means you do not even have to spend much time in selling your stuff.

However, you may also find some unwanted items in your home that do not actually have any cash value. You can still use them towards debt elimination with a little smartness. I recommend you to take it to goodwill, but do not forget to receive a receipt for the same. The idea is to use that as a tax rebate the next year when you file your return. This way, though not instant, but you can still get some "cash" value for all that unwanted clutter.

So, as you can see, it is just about making some smart moves and you can arrange thousands of dollars of risk free money. In the last part, I will walk you through the last three steps, where you will learn how to develop a debt elimination or debt repayment plan and finally how to get rid of those huge piles of credit card debts. Meanwhile, you can visit my website for more information on smart management of your finances to achieve a debt free life.