Financial Leverage Definition, Advantages, and Disadvantages
Marc Firestone: 5 Easy Steps To Pay Down Your Debt
1. 5 EASY STEPS TO PAY DOWN
YOUR DEBT
CREATED BY MARC FIRESTONE
2. 1. Create a budget.
The first step to solving your debt problem is to
establish a budget
3. 2. Pay off the most expensive debt first.
The most expensive debt almost always comes with the most
expensive interest rate, meaning the longer it takes you to pay it
off, the more money the bank will make off of your money!
4. 3. Pay more than the minimum balance.
To make a dent in your debt, you need to pay more than the minimum
balance on your credit card statements each month. Paying the minimum
only prolongs a debt payoff strategy.
5. 4. Halt your credit card spending.
Want to stop accumulating debt? Remove all credit cards from
your wallet, and leave them at home when you go shopping!
6. 5. Change your habits.
Spend some time thinking about how you spend money each day, each week
and each month. Do you really need your daily latte?
Can you bring your lunch to work instead of buying it four times a week?