8(ate) Simple Steps to Bust Your Debts

  1. Don’t Procrastin’ate’ – Take Action NOW
    Stop hoping the problem will fix itself
  2. Uncomplic’ate’ Your Affairs
    Get all the facts down on paper so it’s clear what needs to be fixed – You can’t mend what you can’t measure
  3. Create a Clean Sl’ate’
    Create a ‘clean slate’ spending plan that ensures you can pay for your essentials
  4. Negoti’ate’
    Better Deals Negotiate with your creditors to:-
    a) Reduce Interest rates
    b) Reduce repayment amounts
    c) Obtain a repayment holiday
  5. Consolid’ate’
    a) Sell non-essential items to pay down debt levels
    b) Refinance multiple high interest rate debts to one low interest rate loan
  6. Calcul’ate’
    Calculate your Debt-Buster ‘Snowball’ repayment plan to find the fastest way to pay off your debts
  7. Separ’ate’
    Protect Yourself from yourself – Arrange your affairs so it is difficult for you to mess things up e.g. Cut up the Credit Cards, Only shop with Cash, Leave your wallet/purse at home.
  8. Celebr’ate’
    Celebrate! You are now on a financial journey to achieving your goals and dreams.
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