How to Pay Off Debt Efficiently

Submit Your Tip

How to Pay Off Debt Efficiently – This is a place for the community to provide tips and advice on How to Pay Off Debt Efficiently. This topic was created by Dingo Dynamite and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

Tip 1 - How to Pay off Debt Fast: The Most Efficient Method

Published: 9 years, 2 month(s) ago | Submitted by AVA 3829352 | permalink

We are going to teach you how to pay off debt fast, in a way that has mathematical advantages. Just keep in mind that "fast" here is a relative term. You won't close out individual accounts at lightning speed, but this method will help you become totally debt free in the fastest way possible.

For further reading: http://www.clearpointcreditcounselingsolutions.org/how-to-pay-off-debt-efficiently-the-ladder-method/ ^[1]

Tip 2 - The Correct Way to Pay Off Personal Debt: The Debt Avalanche

Published: 9 years, 2 month(s) ago | Submitted by Monica Crapanzano | permalink

When it comes to mathematics, certain facts are universally agreed-upon. For example, regardless of your culture or educational system, you must agree that one plus one equals two unless you mistakenly fall for an invalid proof. When dealing with money, why are people inclined to believe that one plus one does not equal two? If you have a certain amount of money available to pay off a portion of your credit card debt each month, even if that certain amount changes, there is a mathematically correct way of paying off that debt. You can call this approach the Debt Avalanche. It is similar to Dave Ramsey's popular "debt snowball" method, with one small but important detail: With the Debt Avalanche you will pay off your debt faster and pay less total interest to banks and lenders. The simple calculation for the Debt Avalanche requires only the interest rates for each debt account. This assumes that all debt accounts have the same tax liability, but if that's [...]

For further reading: http://www.consumerismcommentary.com/the-correct-way-to-pay-off-personal-debt-the-debt-avalanche ^[2]

Tip 3 - How To Pay Off Debt Fast Using The Stack Method

Published: 9 years, 2 month(s) ago | Submitted by cjbilly | permalink

Tired of debt strangling your life and sanity? Learn how to pay off debt fast using the stack method that will dramatically accelerate your debt repayment.

For further reading: http://www.lifehack.org/articles/money/how-pay-off-debt-fast-using-the-stack-method.html ^[3]

Tip 4 - 24 Ways to Pay Off Your Debt Faster

Published: 9 years, 2 month(s) ago | Submitted by Nathalie HOUMEAU | permalink

Ready to get rid of your debt! We share some great tips to help you do it even faster!
Tags: Get Out of Debt,debt,cash,time

For further reading: http://blog.readyforzero.com/ways-to-pay-off-your-debt-faster/ ^[4]

Tip 5 - Pay Off Debt in 7 Steps and Still Maintain Your Lifestyle

Published: 9 years, 2 month(s) ago | Submitted by Camille Forte | permalink

By show of hands, how many of you want to pay off debt? That many huh? No worries, so do I and so does just about everyone you know.
Tags: pay, off, debt, in, 7, steps, and, still, maintain, your, lifestyle, black, voices

For further reading: http://www.huffingtonpost.com/tiffany-aliche/pay-off-debt-in-7-steps-a_b_3377865.html ^[5]