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How can someone get out of debt fast without spending more money?
Question : How can someone get out of debt fast without spending more money?
get out of debt fast
Best answer:
Answer by theprez7
That will be very hard to do. You will need to spend more money to pay down your debit. It may hurt financially now, but it will save you money spent on interest later. The more you pay now, the ,ore you save in the long run.
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#2 written by john d 1 year ago
Here is one clasic example however it requires the spending of more money but not as much as you may think.
You get a home loan and your first payment is .99 cents to principal and a zillion to intrest. If you look at a month by month break down the first month you will have 10 dollars on the principal of the loan value in about 8 months give or take a few depending and balance and intrest. So if on your first loan payment you add an extra 10 dollars and make a point of asking it to be applied to the principal, you just shaved off about 7 months of payments. If your payment is 800 a month you just spent 10 bucks to cut off $ 5600 at the end of your loan. Not a bad trade off. Here is tip I used often. I would go into the bank and make the payment. As I handed the teller the check I dug into my pocket and pulled out all my lose change and added that to my payment. At first the teller just looked at me funny. Seems I have a habit of collecting pennies gallor. After about the 10th month of doing that it began to show. My payment requirements were getting smaller so more of the payment (I was still making the larger payment) was going to the principal.
Second tip, make a list of all your debts. Arrange them in order from smallest to largest. If you have any extra to pay, pay it on the smallest one. Focus all your extra enegy and dollars to that one. When that one is paid off, put ALL that money (and the little extra you were paying) onto the second largest debt. By the time you have the first 3 paid off, you will begin to see a difference. A really big difference. I did this one for 5 years. I have about $ 4000 in debt left and thats all. Car is paid for house is paid for. It takes time and effort and most of all self control. So just do it.
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#3 written by Ron G 1 year ago
If you own property you can pay high interest credit cards with your equity and save thousands on interest. I can show you how http://www.exitvalerorealty.com/rgibson
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#4 written by jon s 1 year ago
I don’t know a way without spending any money, but you can spend a little here to get out of debt fairly fast. This is working well for me give it a try. You can earn up to $ 1092 per month just for being a member. You can earn much more with a little effort. You can sign up for a free trial by clicking here and filling out the form.
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#6 written by mother_of_bonehead 1 year ago
This is completely legal and works great. If you have more than one credit card start by paying it off first while paying the minimum balance on your other cards. Once it is payed off go to the next card, applying what you would have to the first to the second ect. That way not only do you end up paying them all off faster, you always know what your budget it. The hard part is you must stick with it! Dont go ok well that ones paid off i have $ $ $ more to spend. That will put you right back where you are now.
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