Are You in Debt?

Try the Debt Snowball

Follow the Seven Step Plan below to Get Out of Debt!

  • Make a plan and and commit to stick with it.
  • Set up an emergency fund. Save at least $1000¬†for an emergency fund.
  • Stop using your credit cards. The best way to do that is to cut them up and throw them away. At the least put them in a difficult spot to get to and use.
  • List your debts from the smallest to the largest with the following columns: Debt Owed, Creditor, Minimum Payment, Debt Paid Off.
  • Pay minimal payments on all but the smallest debt.
  • Apply all the extra money you can find into paying off that smallest debt.
  • Once that smallest debt is paid off, roll that payment plus any extra money into the next debt on your list and keep doing this until all your debts are paid off.