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A man who paid off $100,000 while earning $7 an hour gives his 3 best tips to pay off debt

Discussion in 'General Discussions and Lounge' started by AF-Roger, Sep 20, 2015.

  1. AF-Roger

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    His tips for others who are working to pay off big debt are:

    • Be aggressive. Paying just the minimum won’t do the job, he says. “If people can pay off a $35,000 car loan in five years, why do they just pay minimums on student loans? If you just pay the minimum, it will never go away.”
    • Automate it. Don’t give yourself the opportunity to spend money that is earmarked for debt. (Also don’t risk a late payment or oversight.)
    • Use windfalls. A birthday check, a bonus or a tax refund can help you reach your goals faster, he said.
    Read more A man who paid off $100,000 gives his 3 best tips to pay off debt - Business Insider
     
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