Blogging Away Debt Our Journeys to a Debt-Free Life

May 10, 2006 |

Festival of Frugality #22 is Up!

Caitlin at Clutter2Cash is the host this week for the 22nd Festival of Frugality. If you haven’t already, make sure you check out the great articles.

Thanks Caitlin for hosting 🙂

Here are five simple guidlines that will help you pay off debt.

1) Get an emergency fund so you don’t take on debt when something comes up.

2) List your debts. This way you know where you stand.

3) Use the debt snowball. Pay your debts from smallest to largest, or most expensive to least expensive.

4) Avoid new debt. No new credit cards or loans. Period.

5) Go all cash. After everything is paid off, switch to all cash.