Getting out of debt is not complicated. Two simple steps to get you started:
Step #1:
Save a $1,000 emergency fund. OR don’t save a $1,000 emergency fund.
The emergency fund keeps you from using your credit card(s) when life’s little expenses pop up. Things like hot water heater repairs, small car repairs, doctor visit co-pay etc.
Step #2:
Prepay your debts, smallest balance first, until all are gone except your mortgage. OR prepay your debts, smallest balance first, until all are gone including your mortgage.
Most people who pay everything off expect the mortgage are done it just a couple of years!
It’s not complicated. Getting out of debt, simple options. It’s up to you to get started.
To Your Financial, Debt Free Future,
Greg Whitaker
