How to Eliminate Debt Without Extra Income

Step-by-Step Guide

1. 1

   Step 1: Select the credit card with the smallest balance

   In fact, you should cut up the card. , A DKF is "free money." It is money you saved from an expense you no longer have.
   
   For example, if your average gas bill for three months is $100, and it goes down to $75 in the fourth month, you now have $25 for your DKF.
   
   You were used to spending $100 on the gas bill, so after you pay the $75, you take the saved $25 and put it away for your credit card bill. , So, if the minimum required payment is $60, and your DKF is $40, pay $100 on the credit card. ,, So, if your Debt-Killing-Factor was $40 and the minimum payment was $60, you now have a new debt-killing-factor of $100. , This balance will disappear very soon.
2. 2

   Step 2: as long as you pay a similar interest rate on it

3. 3

   Step 3: when compared to other credit cards you may have.

4. 4

   Step 4: Stop using this credit card.

5. 5

   Step 5: Create a Debt-Killing Factor (DKF) -- a monthly fund you will use only to pay off your credit card.

6. 6

   Step 6: Apply your DKF to the minimum monthly payment on your credit card.

7. 7

   Step 7: Even if your DKF for this first credit card changes

8. 8

   Step 8: be sure to add something to the minimum payment every month.

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   Step 9: When you pay off the first credit card

10. 10

    Step 10: take the minimum payment you were paying each month

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    Step 11: and add it to your DKF.

12. 12

    Step 12: Take your new DKF and add it to the minimum payment on a second credit card.

Detailed Guide

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