How to PAY OFF DEBT WITHOUT ANY EXTRA MONEY

If you are drowning in debt, but cannot find any extra money to pay it off, then this advice may help you tremendously! If you follow this plan, you can pay off your debts while making the same amount of money that you are already making!

Instructions

Difficulty: Moderately Easy

Things You’ll Need:

• your current bill statments
• a calculator
• paper
• a pen or a pencil

1. Collect all of your bills and write them all down on a piece of paper. Example: 1: Chase Visa, 2: Mastercard, 3: Student loan, etc...
2. Taking your calculator, divide the total balance of each bill by the monthly payment. Example: if you owe $2000 on a Visa card, and your monthly payments are $34 a month, you would divide 2000 by 34. This gives you a number = 58.8. After doing this with each bill, write them down on another piece of paper from the greatest to the least.
3. This will be the order in which you will pay off your bills. Starting with the bill that is on the top of the list, pay it the monthly payment PLUS ANYTHING MORE...even $5 more. However much you can put towards it will work. Continue to pay the rest of the bills on your list using their monthly payments.
4. Continue doing this every month until the first bill is paid off. Once it is paid off, take the bill that is the second on the list and pay the monthly payment PLUS THE EXTRA MONEY PLUS THE MONTHLY PAYMENT FROM THE FIRST BILL. Do this every month until the second bill is paid off.
5. Continue to use this pattern until all of your bills are paid off!