Hello Loves,
Welcome back to Forever Young and Married Blog. Today I want to show you guys 3 easy ways to paying off your debt the smart way.

Paying off debt is extreme hard if you do not plan for it. One thing I learned real fast is that it is easy to get yourself in debt, but hard to get yourself out of it. If you really want to be debt free it is some things you have to do first to get yourself in that order. You really need to do your research and see what plan would work out for you. Below I will list a few ways to get out of debt.

  1. Debt Snow Ball…

This is a great way to get out of debt. You take the smallest debt and pay as much as possible on it until the debt is paid off. You will continue to pay on the other debt, but you will just be making the minimum payment on those. Once that small debt is paid off then you move on to the next smallest debt you have. You will continue this method until you have paid off all the debt. My mom always spoke of this method and it works out very well for her.

  1. Consolidate your debt…

This is anyway great way to get out of debt. Shop around the market for a rate on a personal loan to consolidate all of your debt in one bill. This can save you a lot of money in the long run because you will have a fixed interest that will be better than your credit card rates.

This method was the method I went with. I ended up going through lendingclub.com and getting a personal loan to consolidate my debt. It was a very easy process and the money was in my account about month later. It is a little time consuming because you have to wait for lending club to get all the investors to invest in your loan, but it was definitely worth the wait. Also, you can consolidate your debt through a federal credit union if you own a car as collateral. My sister did her consolidation that way and got a very good interest rate.

  1. Working another Job. (Do it yourself method)

This method has to be one of the hardest methods to do. Working part-time for extra money to pay off debt is still a good way to get out of debt with the right self-discipline. Another way you can do it yourself is changing your lifestyle and giving you s strict budget to pay off your debt. You have to have the right mind set to be successful with this method. If you do not have the right mindset you can easily rack up more debt taking this route to debt free.

Anyone you choose to pick will led you to the debt free club. Just remember that you have to have a plan and do your research on what way would work for you. Once you are out of debt please never get yourself back in debt.

 

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