Comments on: How to Get Out of Debt http://cashmoneylife.com/how-to-get-out-of-debt/ Money Management, Small Business, Career Wed, 23 May 2012 21:16:10 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Daddy Paul http://cashmoneylife.com/how-to-get-out-of-debt/#comment-22532 Daddy Paul Tue, 23 Mar 2010 23:23:11 +0000 http://cashmoneylife.com/?p=2230#comment-22532 Good article. Debt can be a real monster which eats your lifestyle and well being. I say pay down on the highest interest first. Look at your debt as one large pile and attack the biggest expense first. Good article. Debt can be a real monster which eats your lifestyle and well being. I say pay down on the highest interest first. Look at your debt as one large pile and attack the biggest expense first.

]]> By: Kristine http://cashmoneylife.com/how-to-get-out-of-debt/#comment-22516 Kristine Tue, 23 Mar 2010 18:15:21 +0000 http://cashmoneylife.com/?p=2230#comment-22516 We've used the DOLP method, which means dead on last payment, to get out of debt. It was created by David Bach to organize your credit card bills in the most efficient and effective order to pay them down. DOLP=credit card balance balance divided by minimum payment. When you use this method, it shows you which credit card you can pay off the fastest (the lowest DOLP number). You pay as much as you can on this credit card, and the minimum payment on the other cards. Once paid off, you move what you paid to credit card #1 to credit card #2 (the second lowest DOLP number). We’ve used the DOLP method, which means dead on last payment, to get out of debt. It was created by David Bach to organize your credit card bills in the most efficient and effective order to pay them down.

DOLP=credit card balance balance divided by minimum payment. When you use this method, it shows you which credit card you can pay off the fastest (the lowest DOLP number). You pay as much as you can on this credit card, and the minimum payment on the other cards. Once paid off, you move what you paid to credit card #1 to credit card #2 (the second lowest DOLP number).

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