15 January 2009

Tip of the Day January 15, 2009

Dig out of Debt

Yesterday's tip was to spend more wisely and I suggested you physically put the money you weren't spending in a piggybank. Today we are going to move that tip up a notch. At the end of the month you are going to empty the piggybank (or jam jar or Milo tin or whatever) and take that money, as it is, and pay it straight off your smallest debt. It may be your credit card or a personal loan or even your mortgage. You are going to pay that money, no matter how small the total, off that debt. Then you are going to keep doing this until that debt is completely cleared. Of course you'll still be making your regular payments on it, but this extra boost should see it disappear even more quickly. When this debt is gone you can start on the next smallest. And best of all is you won't be missing the extra payments.

No comments:

Post a Comment

Thanks so much for taking the time to leave a comment...I just love hearing from you!

Just a couple of things:

Please don't use your comments to advertise your business or goods for sale, any such comments will be removed.

And please include your name, anonymous posts will not be published and will be recorded as spam.