How To Payoff Debt? - Best Strategies

In this session, we will discuss how to pay off debt by implementing some best strategies.

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How To Payoff Debt? - Interview With A Common Man Who Achieved Success

Hello everyone.. this is John here. Let me explain what exactly I did to overcome my huge debt systematically in just 4 years.

So let's start...

How the hell do I manage all this debt? I remember the desperation I felt when I finally realized I was in trouble.

It certainly crept up on me, and I might have been oblivious to the fact, but I remember the day when it dawned on me – I was a slave to the financiers that I was so diligently paying back an amount each and every month.

The days of easy credit have certainly been good to me, but it finally caught up with me a few years ago, and I knew I had to make some tough choices in my life.

So I set on a course of action that will ultimately see me get rid of the debt – I am not quite there yet, but I am well on the way.

I have a few key pointers that I would like to share hopefully, you can benefit from the knowledge I have gained and you can fast-track your journey and learn how to pay off debt and live without that monkey on your back.

The first thing I did was recognize that consumerism was killing me. Metaphorically, that is.

I was never a big spender or profligate spender, but I liked the regular bottle of red wine, I wouldn’t blink at having the updated techno toy, and my wife always liked the best brands.

So my disposition was oriented towards accumulating, rather than sensible acquiring things I needed, and more importantly, could afford.

Once I realized that my head was wrong I had to recognize that I needed to make a change.

I could not keep going on, the way I was – 4 credit cards not quite maxed, but about $25,000 in credit card debt, and some small home improvement expenses (a personal loan), I had no prospect of paying out the debts quickly.

Accepting that I needed to change I also realized I needed to get some help. I knew I needed help, and delayed contacting someone for over 6 months, trying to do the impossible all by myself.

I was getting quite desperate so I contacted this provider and got things rolling immediately.

I needed to get things moving quickly. That was when things started to turn around.

I still had to work a second job for about three years – I just recently gave that up, as the progress has started to really kick in – working 7 days a week, at my age, is no fun I tell you.

We had to get some agreement in the house. So my wife and I decided on what our priorities were.

Whatever happened, we were going to learn how to pay off debt. Our grown-up sons were leaving home at the time, so some of the expenses were going down.

We made a budget. This is still something that I struggle with, but I figure it is better to have a budget and miss the mark than to have no budget at all.

We started off with the “debt snowball” approach popularised by Dave Ramsey. This is definitely the way to go, but I really needed the help of Curadebt to really get things moving. And back under control. It took a bit of time and paper chasing, but only having one debt is better than multiple debts.


Key Points To Remember


Some of the key lessons I learned were:

-You need to recognize there is a problem,
-You need to spend less than you earn and
-You need professional help if you can’t do it on your own.
-If you want to learn how to pay off debt, here is what I did – and what you need to do:

  1. Reject consumerism – find happiness in what you have – not what think you want.
  2. Work out what you are spending your money on. Prepare a budget. Find a way to reduce spending to below your earnings.
  3. Recognize that you need to make a change. Make sure your family is working together.
  4. Do a stocktake – be real and honest about all your debts
  5. If you need help, get it early, not after a year or two of wasted or failed attempts.
  6. Use the Debt Snowball approach – Pay the minimum off all of your outstanding debts. Start with the smallest balance and pay an extra $50 a week or whatever you can afford off the smallest.
  7. Use sites like OvernightAddressFinder to get updated payoff/payment address details
  8. Use Calculators like debt calculators to know what you doing.

Top 3 Strategies To Payoff Debts


If you decide you need to pay off debt and sort out your financial obligations then you will want an effective method to do it right.

Nowadays, most people claim that they would love to achieve the target of comprehensive financial debt reduction.

In spite of this, not very many seriously spend the necessary time to prepare how they can possibly get it done. A debt reduction system or what I call a “pay off debt strategy” will assist you to concentrate your energy and enable anyone to achieve their primary goal to payoff the debt in the most efficient way possible.

A payoff debt strategy will also help you cope with the sacrifices that you have to make in order to rid yourself of debts.

People who try to eliminate their debts without a strategy often make sacrifices that have little or no impact on their goals. This discourages them and causes them to start incurring more debt.

Having a payoff debt strategy will help you make only the sacrifices that matter. A payoff debt strategy will help you make sure that no unnecessary effort is exerted. A good payoff debt strategy should be suited to your needs.

A good payoff debt strategy should always be based on your current situation. This means that you need to make your own payoff debt strategy. However, a good payoff debt strategy always begins with these three steps:

  • Stop borrowing
  • Pay more than the minimum balance on your debt 
  • Save what you can

So let’s get started. Discipline is required, but you can really learn how to pay off debt if you really try.

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