So now you are saving money and what do you do with that extra money? Buy stuff, go out dancing? NO! Now you start paying off debt and putting some money away for a rainy day.
Don’t attack your debt by adding it all up and dividing by some number you pulled from the sky. Start slowly. First you start with your lowest credit card and try to double the payments each month. If you can’t double the payment then add something, anything to make it a larger payment AND do not use that card again. Cut it up. I have a friend that froze hers in a block of ice so she has time to come to a better decision by the time the block of ice thaws.
When you have your smallest debt paid off then add that entire payment to your next smallest debt, and just keep on going. You will be surprised how satisfying this is and how fast your debt is paying off.
Same with saving money. Start off with as little as $10.00 per week and after six months add 5 to 10 more dollars and before you know it you have a down payment on a car or the house of your dreams.
Start small, don’t get discouraged. But if you don’t start somewhere some day you will really be sorry.
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