Tackle Your Debt One Bill At A Time To Have Rewarding Results

Debt is the source of some of the most overwhelming stress that you can have.  You don’t have to stay in debt.  There are ways out of it even when it seems hopeless.

The best strategy to get out of debt is to focus on one bill at a time.  Of course you want to make the monthly payments on each one but if you choose one particular bill to put your extra effort toward then you will quickly see results.

It generally works best to choose the bill with the smallest balance to pay off first.  This works well because you will pay off bills more quickly this way.  This is very rewarding and you see results quickly using the lowest bill strategy.  If you choose to pay the lowest bill off first then you just move up to the lowest bill you have after that one and continue with that strategy.

Occasionally people choose to focus on a bill that has a high interest rate or for another reason.  Once you have decided on the bill you want to pay off then all extra money will go toward that bill rather than being spread over all of your debt trying to pay a little extra on each one.

Try to brainstorm on how to bring in extra money to pay that bill off.  Cutting your spending is one way to have extra money to devote to your debt.

It is also good to have rewards along the way.  Plan small rewards and large rewards.  For example, you might take the family out to watch a major league ball game after one debt is paid off.  Maybe after paying off four or five you might choose to go on a vacation.  Having those rewards and goals in mind will help you to cut your spending to pay more toward the debt you owe on.