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Pay Debts Blog
Want to get out of debt, consolidate your debt, get a better loan or just learn some top money and debt rescue tips? We have financial advice here that will help you achieve your dream of being debt free. Absorb all the info on blog and join our site for articles and tips Consolidate Debts LoansPermanent link: More money part3 - consolidate debts loans
More money part3 - consolidate debts loans
7th Step: So working on the basis that your monthly spare was just $200, we can straight away turn this into a more attractive figure: $200 x 12 = $2400 annually. This is a great amount that can really make a difference to your debts. First of all divide the yearly figure in half. E.g $1200 8th Step: One half of this money will be used equally to pay off debt over and above the amount you must pay monthly anyway and to put away some savings in a high interest bank account. Therefore with $1200, $600 goes to paying off debt quicker and $600 goes into saving. Monthly this would be just $50 to find to put away in saving and $50 to start paying off debt. 9th Step: With the other half of the £2400 annual extra you must pay for all of your "luxuries". This will be the hardest part of the task, with just £1200 to spend over a year. For this year you can forget the vacation, forget fashion and trends, forget eating-out and explain to friends and family that their gifts are going to be home - made with minimal expense. The only real "luxuries" you will be able to afford for this year are: cable TV and some clothes, cable is around £25 a month so you will have only £80 a month to buy clothes or other chosen luxuries with. This plan is tough but if you can stick to it, your finances will improve dramatically. Of course many of you will have a much higher budget to work with, but the same formula applies to you as well. Technorati Tags: pay off loans, consolidate loans, budgetPosted by Admin at 2006-09-28 16:15, Home
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