How To Pay Off Debt Sooner (Part I)

Concentrate on single debt at a time

Focus is very important in becoming debt free. So it is suggested to pay attention on paying off one debt at a time. You will be overwhelmed if you try to pay off all the debt at once. It is suggested to first pay off such debt that has higher rate of interest. If not, first pay off the smallest debt first and then the bigger one. This will help you in paying off the debt sooner and probably you will stay motivated.

Don’t add new debt

Yes, it is very true. While you are trying to pay off your existing debt, it is highly suggested not to add any new one in between. Stop making new purchases. Practice self-control. Once you are clear off all the debt, you can opt for the new one. This will help you to remain disciplined. It is to note that as you have money to buy, it does not mean you should keep on buying. In fact you should know the art of delaying gratification.

There may be other ways too and you might have experienced successfully. Share those with us and fellow readers in the below given comment box.

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How To Pay Off Debt Sooner (Part I) Concentrate on single debt at a time Focus is very important in becoming debt free. So it is suggested to pay attention on paying off one debt at a time. You will be overwhelmed if you try to pay off all the debt...