Blogging Away Debt Our Journeys to a Debt-Free Life

Jul 13, 2006 |

Did You Check out the Festival of Frugality Yet?

Dawn over at Frugal for Life is hosting this week’s Festival of Frugality. She did an awesome job and her ABC format is great! Go check it out!

Thanks Dawn 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.