Debt Free Plans - Make it Happen in 3 Easy Steps!
Make your debt free plans today and follow the path to stay debt free
. Having a good plan in places helps you to avoid the pitfalls of having to pay the ridiculous high interest rates that credit card companies put on consumers these days. Three steps can help you to have a plan of action to keep yourself on track and in helping to reduce credit card debt. Step One
Write out all your bills on a list. Beside each bill put the total amount owed, the minimum payment and then the interest rate. Try to list the largest debt at the top. This will give you a good overview of what you owe. Step Two
Decide if you want to pay off the smallest debt first or the debt with the highest interest rate. Whichever you decide, make a new list with the one you want to pay off at the top, followed by the next in line and so on. The top bill will be the one you pay extra on each month. Pay the minimums on all others. Decide how much extra you can pay on the top bill. Even if it'sjust $5 or $10 over the minimum, at least it's a plan working towards getting out of debt.
Once the top bill is paid off take the same amount of money you paid and apply it towards the minimum of the next bill in line. And keep working down the list likewise. Eventually all the bills will be paid off. Step Three
Most importantly, while working on paying off debt, do not go into further debt. When a debt is paid off completely close the account. Having credit cards laying around just serves as temptation. Stop this before it gets you again.
Easy to do - just follow the plan, paying off the first on your list, striking it out and moving on down until all are paid in full and shut the accounts. Don't be tempted to pay balances with open balances on credit cards. Remember you are aiming for being debt free!
as temptation. Stop this before it gets you again.
Easy to do - just follow the plan, paying off the first on your list, striking it out and moving on down until all are paid in full and shut the accounts. Don't be tempted to pay balances with open balances on credit cards. Remember you are aiming for being debt free!
Debt Free Plans - Make it Happen in 3 Easy Steps!
By: James Mizzell
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