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(PIX11)– Nicole Lapin, financial expert and author of “Rich Bitch,” shares tips to help you clear your of debt with reasonable timeline so you can still have a somewhat regular life.
Paying Down Debt: 10 Step Plan
- Prioritize: Pay down debt with the highest interest rate first
- Set a schedule: Make a timetable to pay it off and don’t drag it out
- Get your rates down: Call your credit card company and ask for a lower APR
- Pull it altogether: Consolidate your debt if you can
- Get Methodical: Create a realistic payment plan
- Give extra love: Try to increase your contribution
- Don’t cut up your credit cards: Closing an account may hurt your credit score
- Ask for help if you need it: Meet with a credit counselor
- Don’t forget the pain: Remember what it took to get debt free or be doomed to repeat it
- Keep up the routine: Keep that auto-deposit in place to meet your endgame goals