10 Effective Strategies for Paying Off Debt Faster [Issue #10]
Debt Payoff 101: The Ultimate Guide to Becoming Debt-free and Achieving Financial Freedom
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Debt hurts your ability to invest in your future, because you are using the money you earn today to pay off things from your past. Society encourages us to live in a never-ending debt trap by borrowing for cars, school, weddings, vacations and living beyond our means. Here are 10 strategies to help you become debt-free:
1) Make a budget and stick to it: This will help you track your expenses and determine where you can cut back.
1a) Think of money as a tool, and use your money resourcefully to get rid of debt. Creating a budget will help you visualize where you can cut back spending and where you can apply that money to your debt.
1b) To get started, you can look at old credit card and debit card statements to get an idea of where your money is being spent on expenses, and then figure out areas in which you can cut back. Budgeting with software, websites, or apps can also make budgeting easy to stick with.
2) Consider consolidation: If you hav…
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