Are you tried of going to the mail box and find many bills in there waiting for taking out your check book? Have you ever wondered if you will ever be free? Each month you pay the minimums and although you KNOW you’ve got a handle on it – you are not charging your credit card or accumulating new debts anymore – it seems that you will be paying the minimum fees forever.
The way you pay your debts can affect how soon you will finish paying them off – even if you keep paying the same amount for debt every month. Of course you might be able to get a consolidation loan, but if you’re not eligible or are not interested then there are several other things you can do. It’s not always the easiest to figure out the mathematics, but there are four steps to quicker debt relief.
1. Create a list: List your smallest debts first followed by your largest high-interest debts (credit card) and then your largest low-interest debts (Lines of credit and taxes). Plan to pay the minimums on all debts with these goals in mind:
2. Small bills first: They may not be the highest interest, but every bill that you are paying some interest on means...