If
you have debts then you may also have a desire to pay off the debt. If you
really have a desire to pay off your debts, then you should take aggressive
action to pay off everything. After that, you would really be able to spend the
rest of your life in a state that is unfettered by debt/ free of debt.
you have debts then you may also have a desire to pay off the debt. If you
really have a desire to pay off your debts, then you should take aggressive
action to pay off everything. After that, you would really be able to spend the
rest of your life in a state that is unfettered by debt/ free of debt.
Indeed,
many people have good intentions to pay off their debts, but there are always
obstacles that suddenly have to face so their debts cannot be paid.
many people have good intentions to pay off their debts, but there are always
obstacles that suddenly have to face so their debts cannot be paid.
Here are 10 ways you need to do to pay off your debts
quickly:
quickly:
1. Be serious! It would be pointless if you decide to pay off
your debts but you are not serious about it. Think back to times in your life
when you have decided to take something that you want and you may succeed only
after you make a conscious decision to do so seriously. You will be able to pay
off your debt more quickly if you are serious about it.
your debts but you are not serious about it. Think back to times in your life
when you have decided to take something that you want and you may succeed only
after you make a conscious decision to do so seriously. You will be able to pay
off your debt more quickly if you are serious about it.
2. Make a plan of an unexpected thing. Do not just start
throwing money at your debt without some plan of things that are unexpected.
What would you pay first? How much money will you put towards your debts? Do
you cut other expenses while paying off your debt? A comprehensive plan of
things that are unexpected will help you to get your debt paid off faster.
throwing money at your debt without some plan of things that are unexpected.
What would you pay first? How much money will you put towards your debts? Do
you cut other expenses while paying off your debt? A comprehensive plan of
things that are unexpected will help you to get your debt paid off faster.
3. Stop spending money on things that are not necessary.
Instead of eating out, pack your lunch. Instead of stopping for a coffee, take
your own drinks from home. The more money you have to pay, the faster your debt
will be paid. In short, make your life more meaningful.
Instead of eating out, pack your lunch. Instead of stopping for a coffee, take
your own drinks from home. The more money you have to pay, the faster your debt
will be paid. In short, make your life more meaningful.
4. Use a portion of your savings. If you feel uncomfortable
with this idea, take some of the money from your savings account and pay most
of your debts. Make sure you still leave enough money in your savings account
for emergency situation.
with this idea, take some of the money from your savings account and pay most
of your debts. Make sure you still leave enough money in your savings account
for emergency situation.
5. Cut your credit card. You’re asking for trouble if you keep
using your credit card while you’re actively trying to pay it off. It is better
to stop using the card for several reasons: You are not going to add more money
to the debt, and you really will see your balance goes down. See a decrease of
balance can help you stay motivated. Beware of canceling your credit card
because this step can affect your credit score in a bad way.
using your credit card while you’re actively trying to pay it off. It is better
to stop using the card for several reasons: You are not going to add more money
to the debt, and you really will see your balance goes down. See a decrease of
balance can help you stay motivated. Beware of canceling your credit card
because this step can affect your credit score in a bad way.
6. Credit consolidation
loans. You might be
able to save quite a bit of money in interest and get your debt paid off faster
if you combine all your accounts into a single account with lower interest
rates. The best way to do this is through a 0% balance transfer. You may be
able to save hundreds or even thousands, depending on your situation.
loans. You might be
able to save quite a bit of money in interest and get your debt paid off faster
if you combine all your accounts into a single account with lower interest
rates. The best way to do this is through a 0% balance transfer. You may be
able to save hundreds or even thousands, depending on your situation.
7. Get another job. Find a way to bring in some extra money,
and put all extra money directly into your debt.
and put all extra money directly into your debt.
