We talked in last week’s Blog post about us wanting things quick and easy so today we are going to stay there for a minute as we discuss one sure fire way to pay off your debt quick.  Well here we go…that one way is to pay more than the minimum balance.  Now before you leave me, hang on a minute and hear me out.  I wasn’t being obvious or sarcastic but so many people think if they can’t pay an entire extra payment or a large amount it isn’t getting them anywhere but it is.

Here are a couple of examples for you:

Let’s say your payment is $122.75 (just making up a number) – I would pay $125 no matter what.  Then, based on how close you are running within in your budget go up from there.  If you could pay $130 – DO SO, $150-EVEN BETTER!

If your payment is $882.37-I would pay $885 no matter what.  Then as you can, increast that to $890, $900, $925 etc.

Another helpful hint for you is to budget weekly so using the $125 example and assuming you get paid weekly, set aside $31.25 each week then at the end of the month you have $125.00  What’s going to happen also is there are some months that have 5 weeks so you’ve just accumulated another $31.25.  You can put this toward the balance immediately or let it accumulate a little while and then add it to your payment.

So see, you don’t have to have huge amounts.  Every little bit helps and every little bit adds up.  It is those simple, consistent steps that move you closer to the PAID IN FULL finish line!

If you have any questions and/or want to talk about your specific amounts and how to budget them – please reach out via email:  budgetwithcarla@gmail.com or sending a PM thru our Facebook Group page Budgeting Basics-A journey to debt free living