Today, I will show you 7 steps to pay off debt quickly and easily. Need to make a debt free plan watch this to find out step by step how ➡️ ➡️ ➡️➡️ ➡️ ➡️ • Escape Debt's Grip: Ho...
1. List all monthly expenses from the 1st of the month to the end of the month.
ex. Mortgage, rent, car payment, credit card payments, electric bill
2. List out all expected expenses
ex. Groceries, Gasoline, Eating Out
Track the expenses for 30 days using:
Mint.com (comprehensive)
Goodbudget (Great for beginners)
EveryDollar (Dave Ramsey)
3. List all debts, there totals due, and there interest rates.
4. Cut out all unnecessary spending, and look around the house and sell anything you can to build cash flow to throw at your debt or emergency fund.
5. Consolidation
Transfer debt to a 0% interest-free card
Person loan at a local bank
Debt Relief Company
6. $1000 Emergency Fund
7. Choose a payoff method
Snowball - smallest to largest amount
Avalanche - Largest interest rate to lowest interest rate
Vertex calculator found at bit.ly/40clBZ0
Extra tip: If you still need more money to fuel this debt free journey, then it's time to get a side hustle. Try some of these:
Uber Eats
Grub Hub
Hire Up
Door Dash
Amazon Flex
🌟Olive Green Cash Envelope Binder A6
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🌟Marble White Cash Envelope Binder A6
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🌟 Cash Tray
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🌟Calculator
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