![]() Once you are debt free except for your mortgage, save a three to six month emergency fund and resume contributing to retirement again (at least 15%).Įdit: budget now for counseling and an evaluation to determine if you would benefit from an antidepressant. If you do this though be sure to be writing a monthly budget and living on it or you will end up going back into debt again. You may also want to downsize and sell your house to pay off your debts. Then work on paying off a second debt while paying the minimums on all of your other debts. ![]() Check out the interest rates, fees and terms to be sure. Debt consolidation is only a good idea if its not going to cost you more, and it might. You need to keep chipping away at the debt with regular payments, and not run up any new debt under any circumstances. After paying the minimum on all of your debts, pay extra on one debt until it is paid off. The truth is the answer is very simple and you probably already know it. Create a monthly budget so that every dollar is accounted for and find ways to lower your expenses. The short answer is to stop using your credit cards and contributing to retirement. You can also buy his book titled The Total Money Makeover. He has a daily podcast which can be motivating and a YouTube channel. Still, in 2011, the debt fight was so protracted that it prompted Standard & Poor’s to downgrade U.S. Look up Dave Ramsey’s website and follow his baby steps to get out of debt. Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit. Get your financial house in order, learn how to better manage your money, and invest for your future. What does up to eyeballs expression mean Definitions by the largest Idiom Dictionary. Banking Megathread: FDIC, NCUA, and your cash Definition of up to eyeballs in the Idioms Dictionary.Private communication is not safe on Reddit. ![]() Scam alert: Ignore any private messages or chat requests. ![]()
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