Have you ever asked yourself - "How can I pay this debt down?!" Where do you start, it can be overwhelming and hard. But armed with these easy steps, you can pay your debt down and eliminate it.
First, you have to know the basics, how much money you have coming in, and how much going out! Or, in other words, a budget.
Second, change what you spend on. Most spending his habit spending, and those can add up. If you like coffee, avoid the high end coffee shops, and brew at home. If you eat out a lot at lunch during work, pack your lunch. It takes three weeks to effectively change a habit, you can do it, and save money.
Third, lock up those cards! Put them away, take them out of your wallet. This will take away your ability to use them on a whim.
Lastly, pay off your debt as quick as possible. A lot of advice out there says pay off the highest balances first, then move down. But that can be more counter productive, pay the lower ones first, and they will come off your "plate" quicker, and you will get gratification from seeing them lower ones go to zero, and eventually falling off the credit report. You will still pay on the larger ones, but you can eliminate the smaller ones quicker and get the euphoric feeling of accomplishment.
In sum, you can pay off you debt, it can be done, you just need some basic steps and habit changes and you can get there.
If all else fails, don't count out bankruptcy, it is a quick and legal way to do so, and will not hurt you as bad as you think. As always, contact me for a free, no obligation analysis. At 313-343-9930 or debtfreedetroit@gmail.com
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