How to get out of debt
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1.Set up a payment plan
Acknowledge ,list & calculate all your debt then create plan on how to repay
A plan helps you prioritize debts and track your repayment progress
Acknowledge ,list & calculate all your debt then create plan on how to repay
A plan helps you prioritize debts and track your repayment progress
2.Don't create more debt
Don't borrow a loan to service or repay another existing loan
Adding more debt while paying off doesn't result to any progress
Don't borrow a loan to service or repay another existing loan
Adding more debt while paying off doesn't result to any progress
3.Uninstall lending apps
Having lending app in your phone increases your like hood of irresponsible borrowing
When credit is easily available you even borrow to satisfy your wants
Having lending app in your phone increases your like hood of irresponsible borrowing
When credit is easily available you even borrow to satisfy your wants
4. Build an emergency fund
An emergency fund gives you a safety net against an unforeseen event in future
An emergency fund should be at least six months of your expenses
An emergency fund gives you a safety net against an unforeseen event in future
An emergency fund should be at least six months of your expenses
5.Make a budget
Creating a budget helps you cut down unnecessary expenses and manage your income better
Focus your extra income towards getting out of debt
Creating a budget helps you cut down unnecessary expenses and manage your income better
Focus your extra income towards getting out of debt
Do you have other tips? Feel free to share
