Eliminate credit card debt, pay off student loans, and get out of debt all together with debt advice, counseling, and planning tools from Money Under 30.
The Seven Steps Out of Debt Series
Seven Steps Out of Debt - Choosing to get out of debt is the smartest financial decision you can make. Follow this simple seven step out of debt system to get started.
1. Write Down Your Financial Goals - The first step out of debt is resoundingly simple, but could be the most vital factor in determining success.
2. Take Stock of How Much Debt You Have - The second part of your debt-free plan involves composing a clear picture of the debts you want to get rid of and more…
3. Your Debt Management Plan - Pick a plan that is too aggressive and you may not be able to keep up; go with a “too affordable” plan and you won’t get out of debt quickly enough.
4. Negotiate and Consolidate Your Debt - After you are in the habit of making regular payments towards your debt, you should begin exploring other debt elimination tricks like debt negotiation and debt consolidation.
5. Automate Your Debt Payments - Getting out of debt takes self-discipline; just like anything worth doing. Luckily, you can use technology to overcome poor self-discipline when it comes to getting out of debt.
6. Monitor Your Debt Elimination Progress - Once you have automated your debt payments, you can breath a sigh of relief. Many of your debt worries are behind you. The only thing left to do is to monitor your progress.
7. The Courage to Live Debt Free - Getting into debt is like craving pancakes at midnight on a Tuesday when you know the 24-hour diner is a good two hours away…
Other Debt Articles
Credit Card Balance Transfers: The Art of Moving Debt
Featured Personal Finance Spreadsheets - Download Today!
Money Under 30 is proud to offer our readers several free personal finance spreadsheets to help you organize your finances and set and reach financial goals whether you want to get out of debt, save for college, or buy a home.
Each spreadsheet is a Microsoft Excel file and is designed for simplicity and functionality. Brief instructions are included, and you may post comments on each spreadsheet’s download page to request support.
Net Worth Spreadsheet - Track your assets and liabilities on one convenient spreadsheet.
Simple Monthly Budget Spreadsheet - Use this free monthly budget spreadhseet to estimate how much money you spend each month.
