Embark on Your Debt Management Journey
If it seems like you’ve always been in debt and there’s just no way to get out, take heart: there is a solution.
The method is as simple as it is effective. However, it does require that you follow two steps consistently, and it will not happen overnight. But, if you stick to it, you’ll be thrilled with the results.
Step One: Stop taking on more debt. No more buying things you don’t have the money for right now.
Step Two: Designate 20% of all income to pay down debt. No more, and no less. This means you’ll be living off 80% of your income until everything is paid off.
Make sure you differentiate between collateralized debt (home loans, auto loans, etc.) and uncollateralized debt (credit cards). Most collateralized debt is fine, (provided you’re buying a car or home you can afford) and may be difficult to do without. The other type of debt is best to pay off as soon as possible.
It might take a while to pay your debt off, but if you stick to the plan, you’ll be debt-free! Contact us today to discuss debt consolidation loan options.
