Debt be Gone!

so apparently the rule of thumb is: DO NOT plan to take longer than three years to pay off your debt. There’s a phenomenon called “debt fatigue” that sets in if live with your debt for too long. Thirty-six months should be your MAXIMUM repayment timeframe.

all i’ve been thinking about lately are my expenses and ways to save. well according to this tool, it is impossible unless i find a way to find 2 extra part time jobs. pfft.

If re-payment looks impossible, here are some steps to take:

a. Get your interest rate down. $5,000 on a credit card charging 25% will cost you $521 a month to repay in one year. Get your interest down to 12% using a consolidation loan and you’ll pay only $467 a month on that balance. Transfer your balance to your personal line of credit and pay just 6.5% and it’ll only cost you $444 a month to pay off that $5,000 in one year. Better yet, transfer your balance to a credit card with an introductory interest rate of just 2.5% and it’ll cost you $427 a month. There, you just saved $100.

b. Find a way to trim your budget so you can put more money towards your debt repayment. Use Gail’s Interactive Budget Worksheet to create a budget that will let you increase your debt repayment amount. Com’on now, you can trim another ten percent. You can do it! I know you can.

c. Make more money. Yes, you may have to find a second job until you’ve made a dent in your debt. It’ll be worth it to get the monkey off your back, I promise.

additional links to help|| note to self, stick to the plan

how much is your debt costing you?
Debt worksheet
Watch Gail’s – ‘Till Debt do us part or Princess

Happy Budgeting 🙂

Sinigang

1

– 1 –

Clean beef/pork by boiling in water
Add onion & tomato largely chopped
Boil to cook for almost an hour (remove bubbles above water)
Add salt & big Black peppers
Once the meat softens/fully cooked – add easy to cook greens
Add green Chili peppers
Once it is boiling add Tamarind mix
Mix & done