Comments on: 10 Ways to Pay Your Debt Off Faster

By: MoneyEnergy

MoneyEnergy — Tue, 21 Apr 2009 05:15:53 +0000

For numbers 2 and 3, these I think are the most important. Don’t waste your efforts trying to pay off your credit cards and other debt just to get back into debt again a year later. It’s like a diet this way. You need a long-term plan that will allow you to NEVER fall into debt again (i.e., beyond being able to pay your cards off in full each month), otherwise this is nearly wasted energy. So in order to lose weight, you first have to stop taking in more fat.

By: Ryan

Ryan — Fri, 26 Sep 2008 17:18:47 +0000

Agreed, Until Debt… If people aren’t on the same page, the battle is over before it starts. It can indeed be tough, but it is well worth it!

By: Until Debt do US part

Until Debt do US part — Fri, 26 Sep 2008 15:05:47 +0000

great post.

From my experience number 7 is perhaps the most crucial to success. It is vitally important that the people around you, your friends and family, are fully behind you and understand what you are trying to do.

The last thing you need is for a conflict to develop between you and your partner as you try to cut back and repay your debts.

It can be tough.

By: Kristen

Kristen — Fri, 12 Sep 2008 16:49:36 +0000

I quit using credit cards a little over two years ago. I don’t have one right now at all. I had a lot of debt that I had accumulated when I was younger and I was stuck in that vicious cycle of pay a little off, charge a little more, get nowhere reducing my debt.

It was really hard (and a little scary) at first to not have a credit card. But I finally started making progress paying off the bills and just making better spending choices the whole way around. It’s a relief to know that how much I owe is decreasing and I’m getting ahead instead of just treading water. I’m definitely celebrating when I make the final payment and owe no credit card debt.

By: Dividend Growth Investor

Dividend Growth Investor — Thu, 11 Sep 2008 17:09:53 +0000

It might also make sense to automate your debt repayment out of your paycheck. And if you ever get a raise, live as if you haven’t in order to avoid lifestyle inflation..

By: eric

eric — Thu, 11 Sep 2008 12:40:57 +0000

“Make sure everyone is on board”

This is CRITICAL when it comes to finances and marriage. For the first year of my marriage my wife and I had differing goals and understandings. It seemed like every time the budget allowed a few extra dollars my wife wanted to rush off and spend it instead of paying off a credit card, or making an extra payment. Great Bullet point, I can’t emphasize its importance enough!