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30 Days to a better man<br />
The benefit of the debt snowball plan is psychological. By having success<br />
paying off small debts first, you’ll receive instant positive feedback that<br />
can encourage you to continue paying down your debt. The drawback to<br />
the snowball method is that you’ll end up paying more in interest than<br />
you would if you went after the debt with the highest interest rate first.<br />
However, if the idea of paying off a $10,000 credit card bill seems too<br />
daunting, go after the low hanging fruit by paying off the $2,000 bill first.<br />
It will hopefully get you started down the path of reducing your debt.<br />
Today’s Task:<br />
Start Paying Down Your Debt<br />
We’re not going to pay off our debt overnight, but we can at least get started.<br />
Today’s task is to sit down and establish a debt reduction plan.<br />
Debt Repayment Plan<br />
Either list your debts from highest interest rate to lowest rate or least debt<br />
amount to highest depending on which debt repayment plan you want<br />
to do.<br />
Creditor / Amount / Interest Rate<br />
___________________ / _________________ / _________________<br />
___________________ / _________________ / _________________<br />
___________________ / _________________ / _________________<br />
___________________ / _________________ / _________________<br />
___________________ / _________________ / _________________<br />
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