So this Friday will be the first payday since I decided to clean up my financial act. I need help guys do you all put your budget for each paycheck down on paper. Is it better to use a monthly calendar? Also how do you determine which debts to attack first?? and or how much to put towards them. I don't mean to sound clueless but as my profile will show I haven't been the best at money management in the past so i'm willing to learn.
1st payday under "debt plan" Please help
June 12th, 2012 at 10:15 pm
June 12th, 2012 at 11:12 pm 1339542761
June 13th, 2012 at 12:55 am 1339548936
If you list your debts, you will get advice. Admittedly, conflicting advice. Usually would be either start with the small balances (to gain momentum and confidence) or start with the high-interest balances (to minimize fees and interest).
How much can you put towards the debt? Have to start there. Then, have you heard of the snowball method? Once you pay off one debt, you add those payments to the next debt - and so it snowballs. So even if you start small, you can start to build some momentum as you pay them off.
June 13th, 2012 at 02:18 am 1339553919
July 14th, 2012 at 08:24 pm 1342297482