Without a budget, throwing any money towards your debt is useless. You may knock down your debt this month, but without a plan for your money, you’re bound to tack on more debt next month – to include more interest owed to the lender.
If you do not have a fully-funded emergency savings, the next life event that happens, your car breaks down, your washing machine goes out, or you have a water leak you were unaware of, can catapult you right back further in debt.
By cutting your expenses and selling a bunch of stuff, you will easily hit your $1,500 – $2,000 goal in no time. When you have your momentum going, continue with your selling and budget tactics to destroy your debt as quickly as you funded your savings!
By spending less than you make and being intentional with your income, you can take control of your financial life and stop worrying and fighting about money. It’s time you stopped digging and started climbing out.