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6 Tips On How To QUICKLY Pay Off Debt
1. Debt Snowball Vs Debt Avalanche
Now depending on what court you decide to play in you’re going to hear two groups advocate two different attempts at paying of your debt. I’m going to be blunt, I love dopamine spikes in my brain so the debt snowball method worked best for me. If you’re a huge numbers nerd then Debt Avalanche could be incredibly beneficial to you. I won’t dive into much math here but just know that Debt Snowball is built around psychology and Debt Avalanche is built around pure hard math. You choose.
2. Set Goals With Dates
I had a goal of paying off my car note within 12 months. So I started dumping all my expendable income into paying it off. I missed my goal by 11 months. Leaving me with a paid off car in 23 months. Was this a failure as far as timing goes? Absolutely! However that raw passion to accomplish this goal in the time that I had originally set was a very motivating force. Your goal date of pay off should be somewhat realistic but at the same time, pushing beyond the limit could be greatly beneficial as well.
3. Intermittent Fasting
I’m going to get a lot of flack for this one because in a weird way I’m basically telling you to starve yourself in order to become financially responsible. Look if…
