The new year is right around the corner. It is a time that you will hear the infamous “New Year, New Me” when it’s really ‘New Year, Old Me, Same Debt.” The new year is a good time to start organizing your finances and preparing to payoff debt.
Take the time out to write down all of your bills and the amounts owed. Determine your debt free deadline. Be sure to keep your list in a place where you can see it everyday.
As you go throughout the year, simply payoff debt that has the lowest balances first. This is called the Debt Snowball Method. The feeling of small accomplishments will motivate you to payoff debt even faster than you originally intended. To eliminate overspending, treat yourself along the way. Take time to go to dinner and a movie to celebrate small victories.
Let 2017 be the year of “New Year, No debt.”