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Financial Friday #52: 4 Tips To Become Debt Free Faster

Friday, March 5, 2021   /   by Mario Daniel Sconza

Financial Friday #52: 4 Tips To Become Debt Free Faster

If your debt is causing you anxiety, affecting your sleep, or your relationships with others, try these 4 tips to getting rid of it faster!

?? 4 Tips To Get Out Of Debt Faster

  1. Lower your interest. If you have 10k in credit card debt at 19.99% interest, you are paying $2,000 per year or $166 per month in interest. Lowering the interest percentage will save you money you can then put towards the principle, paying the debt down faster. Here are 8 ways to reduce your credit card interest.
  2. Budget. Our average coaching student makes an extra $886.98 per month by budgeting. Putting those savings towards your debt will help you pay it off quicker.
  3. Stop Investing. If you have debt with interest higher than 7%, you should not be investing. Every extra dollar you earn should go towards paying off your debt.
  4. Accountability Partner. Paying off debt is hard and requires self-discipline, patience, and commitment. An accountability partner can help you stay on track.



"To succeed, you need to find something to hold on to, something to motivate you, something to inspire you."
- Tony Dorsett
eXp Realty of Canada
Mario Daniel Sconza
4711 Yonge St 10th Floor
Toronto, ON M2N6K8
416-230-3476

Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®.
Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2021 Last Updated April 17, 2021
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