Do These 2 Things Before You Start Paying Off Debt!

You have a ton of debt and you got lucky this month and have an extra $500.00 lying around.  What should you do with it?  

The very first thing you need to do before you spend any money is to create a plan so you avoid digging your debt hole deeper next month. 

Create A Budget To Get Out Of Debt

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.  

Fully Fund Your Emergency Savings

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. 

How To Quickly Fund That Emergency Savings

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! 

You Can Get Out Of Debt

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.  

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