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Debt can be incurred in a matter of minutes while it could take months or years to pay it off.
Here are some steps you can follow to pay it off faster:
overwood.ng/blog/how-to-geโฆ
Debt can be incurred in a matter of minutes while it could take months or years to pay it off.
Here are some steps you can follow to pay it off faster:
overwood.ng/blog/how-to-geโฆ
1. Stop incurring more debt.
Getting out of debt will be harder if you keep incurring more. Avoid debt by all means.
2. Build an emergency fund
Unexpected or unplanned expenses might be the reason you are in debt; an emergency fund will take care of such unplanned expenses.
Getting out of debt will be harder if you keep incurring more. Avoid debt by all means.
2. Build an emergency fund
Unexpected or unplanned expenses might be the reason you are in debt; an emergency fund will take care of such unplanned expenses.
3. Increase your monthly payment.
To get out of debt faster, try to increase your monthly payments if you can pay more than the minimum.
4. Automate your payments.
Set up a regular automatic payment towards your debt. This way, youโll never forget and you'd pay it off faster.
To get out of debt faster, try to increase your monthly payments if you can pay more than the minimum.
4. Automate your payments.
Set up a regular automatic payment towards your debt. This way, youโll never forget and you'd pay it off faster.
5. Organize your debt.
List the amount you owe, the interest payable, and the monthly minimum payment on each loan. That way, it'd be easier to develop a debt repayment plan.
6. Cut your expenses.
Live below your means for as long as possible until you pay off your debt.
List the amount you owe, the interest payable, and the monthly minimum payment on each loan. That way, it'd be easier to develop a debt repayment plan.
6. Cut your expenses.
Live below your means for as long as possible until you pay off your debt.
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