At the end of July, now that I’ve paid off the WF line of credit, I’m able to focus more payments toward my final installment loan. Except for my student loan, I’m on a path to being debt free. Whether you use the debt snowball, debt avalanche, or any other debt reduction strategy, once you are down to your final debt payment, I believe you should aggressively tackle it. Ultimately when you start paying off debt, you must keep your focus, be consistent, and change your patterned behavior. No matter what debt repayment strategy you use, make sure you focus and attack your debt. The interest that you pay daily (interest does accrue daily) is robbing you. Dave Ramsey has said that your greatest wealth building tool is income, and that’s to an extent correct. I’ll examine this thought in a later blog post.
If you want to learn more about the self-lending principle or if you need a financial check-up then contact me
This month’s video is How To Get Motivated | David Goggins Navy SEAL – MOST Motivational Speech from the Mulligan Brothers YouTube channel.
“The LORD will send rain at the proper time from his rich treasury in the heavens and will bless all the work you do. You will lend to many nations, but you will never need to borrow from them.”
I believe in your journey to….
A Debt Free Me