Our goal at ESSERLAW LLC is to help you be… Debt Free. We want to share a great article, 8 Smart Ways to Pay Off Debt Fast, with you.
Similar to a weight-loss plan, paying off debt requires dedication, determination and persistence. Trying to pay it down with drastic measures is not the wise way to go because you can’t really get to the root of the problem by doing so.
Don’t believe me? Just think about what happens to those who crash diet. Debt reduction works in the same manner; brief bouts of deprivation only make things worse.
Here are a few smart ways to pay off debt fast:
1. Stop using your cards
2. Pay as much as you can afford to each month
3. Make cuts to your spending
4. Double up on payments
5. Use nonrecurring sources of income to pay down balances
6. Freelance to earn extra money
7. Tackle those debts with the highest interest rates first
8. Don’t sacrifice the things you love the most