Two Steps For Smashing a Debt

Wouldn’t it be great to pay off that credit card that you have had for the last 10 years… and do it in the next few months?

It is possible if you put your mind to it and have a plan.

Understand that carrying high-interest debt hurts us in so many ways. Not only do we lose tons of money to the interest payments, it affects our credit score.

It also has an impact on our social well being, because of the tremendous amount of stress it brings into our lives.

So here is what you need to do to smash a debt and reduce your stress:

Step 1: You will want to target the debt with the highest interest rate first.

Step 2: You need to make what I call an accelerated payment.

This is money over and above the minimum monthly payment. To find money for your accelerated payment, comb through your expenses and find areas you can cut back on.

If you run a decent budget you should find at least $50 up to several hundred dollars to apply to your minimum payment.

Then all you need to do is rinse and repeat each month until that debt is smashed.

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