No Credit Needed Debt Reduction Guide Section Three: Preparing For Freedom Build A Substantial Emergency Fund After getting out of debt, you next goal will be to stay out of debt. To that end, consider creating and funding a substantial emergency fund. The exact amount that you will want to keep in your emergency fund will vary, according to the…
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Debt Reduction Guide: Moving Beyond The Basics
No Credit Needed Debt Reduction Guide Section Two: Moving Beyond The Basics Reduce Monthly Interest Charges: Send minimum payments and extra payments as early in the payment cycle as you possibly can. This reduces your average daily balance which reduces the amount of interest charged. Transfer Balances Carefully: Consider transferring debt from one creditor to another, but be smart. If…
Debt Reduction Guide: Getting Started
No Credit Needed Debt Reduction Guide Section One: Getting Started Tools: pen / paper / calculator / most recent bank statements / loan documents / credit card statements Calculate Total Starting Balance: List all of your debts – Create columns to list creditors, balances, due dates, minimum payments, and interest rates. Add up all balances – This amount is your…