9 Comments Already

sanketp Said,
September 20th, 2008 @5:31 am  

smaller debt should be put into priority to settle. plan your financial properly otherwise will get into same problem over and over again

Gold Market

Kim Ace Said,
September 23rd, 2008 @6:08 am  

Good strategies indeed. If you decided to go for loans then you need to have strategy how to pay off them smartly and efficiently. High interest rates are what you must look for definitively …

Sandi Said,
September 27th, 2008 @9:12 am  

This is the type of pragmatic approach we use. I work at a bank and we commonly council our clients to prioritize the order in which they pay off their debts by interest rate, create a realistic budget,set up direct deposit for paychecks and make use of online bill payment, which facilitates the entire process.

September 29th, 2008 @5:26 pm  

After I became over $60,000 in debt, I began credit counseling. Two of the most important actions I was asked to take included writing down every dollar I spent and prioritizing every expenditure. I’m a mother of 3 girls, it can be difficult to tell your children that you can’t afford something. I strongly suggest that people evaluate their financial goals and savings before they apply for a loan.

Clarissa Said,
October 16th, 2008 @2:32 am  

You need to prioritize, this is very important and then start to pay debts, paying the minimum on the biggest debts and trying to pay first the small debts, so at the end we will only have the biggest debts and then we can start paying more money.

October 18th, 2008 @10:41 am  

I found that keeping track of every cent that went through my fingers was an absolute must in my path to debt reduction. Once I saw where I was spending my money, then I found I had money available to start paying off my debts. I subscribe to the theory of paying down the highest interest debt first. That is how I’ve prioritized my debt repayments. I recently did a blog post about frugal living on a boat.

October 29th, 2008 @10:10 am  

Thanks for the tips! Keeping track is essentially important to pay off all your debts. Personally I think paying off the smaller ones are better so you have lesser debts to care of.

mouseolympics Said,
May 14th, 2009 @1:26 pm  

Be sure to include an emergency fund as part of your budget. Paying off debt is wonderful, but if an unforeseen situation comes up, you don’t want to derail all the good you’ve done. Here are some tips on how to create an emergency fund.

June 10th, 2009 @6:09 pm  

There is no such thing as a quick fix for debt elimination. It takes knowledge, discipline, time and patience to get your debt under control and gain financial freedom.

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