by Jean Chatzky
This book has the premise of getting out of credit-card debt by putting an extra $10/day toward your bills. If it sounds like a simple solution, that's because it is. The book is very much a beginner's guide to paying down debt. While it does have some good suggestions, I would have enjoyed it more if I picked it up a year ago.
Putting $10/day aside for debt sounds like a bit of a sacrifice to make until you consider how much it adds up to be. About $300/month. Which equals (according to Jean's math) a payoff of $8000 of debt in three years (assuming 18% interest). Personally, I choose to be much more aggressive in my debt payoff. If I only put $10/day toward my more-than-$8000 debt, I would be paying it off forever.
However, there were a few tips I plan to use to help me reach my goals faster:
- Consolidating student loans & student loan rate discount possibilities loanconsolidation.ed.gov
- Shop around for car insurance