Sort out six ways to help me pay off 300 thousand debt

Sort out six ways to help me pay off 300 thousand debt

There is always hope.

Many times, we are emotionally devastated not only by the fact that we owe money, but by the negative consequences of debt! I have experienced this low tide. I can't eat or sleep. I always feel that it is not dangerous to meet my family, friends and colleagues.

Afraid of being looked down upon.

All kinds of pressures in my life make me breathless, and bad emotions happen all the time.

In the end, even the body was greatly affected.

If you are in the whirlpool of debt, you can't extricate yourself.

Try these six methods I have used, hoping to help you get out of trouble and get ashore as soon as possible!

1. List all debts.

Maybe you don't know the exact amount of your debt like I do. Anyway, as long as you see the SMS notification, you can still pay the minimum amount without overdue.

If you can't persist, you want to borrow new online loans, so that the debt will roll up until the day when you can't persist.

By making a debt classification table, you can not only help yourself understand the size of the debt.

It is very important to optimize the repayment order according to the urgency and interest, so it must be implemented seriously!

2. Understand personal financial situation

I suggest you spend 30 days analyzing your financial situation and how much you earn every month.

How much is the charge?

Unconscious consumption is really awesome.

Have you ever thought that you will owe money?

Just because you don't know how much it will cost a month, you may not expect to buy a cup of milk tea today and a dress tomorrow.

How much it will affect your financial situation, but money is accumulated slowly.

Analysis expenditure

Divide all your expenses into two categories: fixed expenses and unnecessary expenses.

Fixed expenses include: car loan, house goods, meals, transportation, credit repayment and other fixed items to be paid every month.

Optional expenses include: socializing, watching movies, eating out, drinking tea and coffee, new clothes and other pleasant expenses.

Subtract from life

This step is the third step of sorting out.

Negotiatable expenditure

Try: Eliminate all.

Especially in the case of debt, it should be strictly enforced.

Some friends may think it's a bit too much.

I am used to drinking a Starbucks before I start work every morning. I see.

But in an emergency, extreme measures must be used.

If you want to get rid of debt as soon as possible, you must make up your mind to be hard on yourself!

5. Implement repayment strategy

Here are two more effective methods. The first one is called snowballing.

That is to sort all debts from small to large.

Try to pay off the minimum amount of debt first, and only pay off the rest. After paying off the first payment, use the same strategy to pay off the remaining debts from small to large. Another repayment method is called "avalanche method"

In other words, the amount owed with the highest interest should be paid first, and the others should only be paid with the lowest amount, so as to save interest expenses as much as possible. Personally recommend the first method!

6. make money! Make money!

To get ashore as soon as possible, in addition to throttling, it is more important to open up sources! First of all, you must actively explore sideline business on the premise of ensuring your salary.

Only students with physical strength can take delivery part-time, and students with the ability to be drip drivers can try to take orders, write manuscripts, do PPT, take photos and so on.

In short, don't let yourself idle and think! Now that the debt has been generated, let's face it positively together. Compared with life and death, this money is nothing!