moonchild
VIP Contributor
Are you struggling with debt and wondering how to use your salary to pay it off? It can be overwhelming because most of the times the salary is not enough to cover living expenses, so most people use debts to cover up the remaining and over time this may get you knee deep in debt
To get out of this, you have to prioritize your debts. List all your debts, including loans, outstanding payments and any other outstanding balances. Start by paying off the debt with the highest interest rate first if that don't apply, pay off the one with the highest amount. This will save you money in the long run and keep you motivated.
Create a game plan with your salary, this can be done no matter how little your salary might seem, if you are really committed in getting out of debt, you should give a half of it in to payment of debts, it is not easy to do, but you will be able to get out quickly this way, but then it all boils down to personal commitment and how bad you want to get out of debt, I understand that this might be a bad move if you have a family.
Be patient and persistent. paying off debt takes time, but it's worth it in the end. try and be focused on your goals, and don't give up make sure you did not get into debt while repaying, because it will just be a vicious cycle for you.
By creating a plan, you can prioritize your debts and stay patient and persistent enough you can use your salary to pay off debt and be free, you can try get another job with a high income that you can live off of so that you wouldn't be taking loans to get by.
To get out of this, you have to prioritize your debts. List all your debts, including loans, outstanding payments and any other outstanding balances. Start by paying off the debt with the highest interest rate first if that don't apply, pay off the one with the highest amount. This will save you money in the long run and keep you motivated.
Create a game plan with your salary, this can be done no matter how little your salary might seem, if you are really committed in getting out of debt, you should give a half of it in to payment of debts, it is not easy to do, but you will be able to get out quickly this way, but then it all boils down to personal commitment and how bad you want to get out of debt, I understand that this might be a bad move if you have a family.
Be patient and persistent. paying off debt takes time, but it's worth it in the end. try and be focused on your goals, and don't give up make sure you did not get into debt while repaying, because it will just be a vicious cycle for you.
By creating a plan, you can prioritize your debts and stay patient and persistent enough you can use your salary to pay off debt and be free, you can try get another job with a high income that you can live off of so that you wouldn't be taking loans to get by.
