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Get Lean with Oprah’s Debt Diet

Over the years Oprah has offered many different types of advice and with her information has generated quite the following. She has shown us how to deal with everything from relationships to weight loss and the advice keeps on coming. Most recently Oprah has introduced a new side of her show, financing. With the consumer debt of America at approximately $2.5 trillion dollars it is clear to see why Oprah would like to tackle this growing pandemic. Many families across the United States find themselves spending more then they’re making, and watch it add up right in front of them. With some simple help from Oprah’s financial experts taking control of your debt can be made easy.

Simple Steps

Step 1- The first step to Oprah’s Debt Diet is quite simple and practical, and that is to find out how much debt you really have accumulated. In some cases people are not aware of the amount of debt they have ran up. By calculating to the amount of debt you have it will make it easier in the long run to prioritize. Oprah recommends running a credit report to view your debt, she suggests using a three in one credit report.

Step 2- The next step to cutting down your debt is tracking your spending. This can sound easier said then done. However, with a few tips it can be made easy, yet helpful to beating debt. To track your spending, begin by writing down everything you purchase, EVERYTHING. After you realize how much you are spending it will become much easier to cut back the unnecessary items in your life. Once you notice your spending habits you can stop buying the items you don’t need.

Step 3- Now it will be time to learn the credit card game. The first step is to start making more than the minimum payment. A tip the finance gurus give is to pay about ten dollars a day (depending on the amount of debt). This will help with your monthly payments. The next part to this step is lowering your interest rate, by doing this you can reduce your monthly payment significantly. This can be done by calling your credit card company and telling them you have other card offers with lower rates. In most cases the credit card companies will negotiate a deal with you.

Step 4- This one is simple STOP SPENDING! Alright maybe not that simple, but it can be made effortless. Oprah’s finance experts suggest some tips to help: don’t carry credit cards, pay bills on time to avoid fees, have friends support you, and create funds for particular occasions. Many find themselves falling back into debt because of their spending habits. If you can conquer this feat you can overcome your debt.

Step 5- Now that you have taken control of your spending let’s create a spending plan. The trick is to save extra cash here and there and apply that money to your bills. By creating a spending plan you will know exactly where your money is going and where you can cut back.

Step 6- Another important tip to decreasing your debt is increasing your income. In some cases one may need to sell assets to get the money needed to pay off creditors. If you do not have assets then you will need to do something to increase the size of your paycheck. This may include asking for a raise at work or taking on a second job. Many people do not want to take on another job, but the rewards are excellent.

Step 7- Once you have begun to pay off your debt, now it’s time to get that credit score up. This is highly important because once your credit score begins to rise your interest rates will drop. This will save you very much in the long run.

Step 8- The final step to debt diet is: understanding your spending habits. The simple rule of thumb is “Do not spend more then you make”. For some people spending is an addiction and a tough one to beat. Once your debt begins to diminish learn to save. Take a bit out of each paycheck and put it in a savings account. If an emergency does arise you will have money to bail you out.


Oprah’s Debt Diet is a simple approach to a complex problem. By following these straightforward tips debt reduction can be effortless. Don’t let debt ruin your life, take action today!

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