There is a growing online community of people who are - or have been - exactly where you are now. And they aren’t afraid to show you how they are climbing out of the same hole you may be finding yourself in now.
We call ourselves and the Debt Free Community, and I am here to share 3 reasons why joining this group of weirdos may be the very best thing for your progress while you embark on this journey.
The baby step method of paying off debt was made famous by finance guru, Dave Ramsey. In the debt free community, the baby steps are the preferred and most common method of paying off debt. It’s also how Josh and I paid off $133,000 in less than four years. In this blog post, we define what baby steps are, how to start putting the baby steps into action, and give tips and tricks to the baby steps plan.
Whether you’re following the debt snowball or debt avalanche, targeting your student loans individually is the most effective way to pay off your debt. Instead of spreading an extra payment across all loans, focus on one loan and throw every single penny at it until it’s paid off. Then move onto the next one. Here's a handy How To Guide on Making Extra Payments on a Nelnet Student Loan.
Whether you're following the debt snowball or debt avalanche, targeting specific student loans is the most effective way to pay off your debt. Instead of spreading an extra payment across all loans, focus on one loan and throw every single penny at it until it's paid off. Then move onto the next one. This blog goes through how to do that with a FedLoan Student Loan.