How to Pay off your Debt
Here is how to pay off your debt:
2. Pay off the small debts first, then the big debts. Why? Dave Ramsey said that finance is 80% behavior, 20% knowledge. We want to start modifying your behavior. Once you get small wins you get excited to tackle the bigger ones.
3. Put all extra income into paying off those debts. Tips, salary raise, gifts – ALL!
4. Keep paying the minimum on all debts except the smallest debt. Attack on all sides!
¶ My son, if you have put up security for your neighbor, if you have struck hands in pledge for another, Proverbs 6:1Free yourself, like a gazelle from the hand of the hunter, like a bird from the snare of the fowler. Proverbs 6:5
highly recommend Chinkee Tan’s book “Till Debt do us Part”
By the way, you can sign up on Act Like a Man’s mailing list to get a monthly coaching from Dennis Sy, president of Act Like a Man. The mailing list is found on the right side bar of the site.