Tips for Paying Off Debt

In this episode of Money Moxie, I’m talking about paying off debt.  I share some of my personal experiences and provide tips such as understanding how much debt you have, paying at least the minimum due each month, focusing on the debt with the highest interest rate, and making extra payments towards the principal when possible. I  emphasize the importance of budgeting, automating payments and making lifestyle adjustments to save money.  This episode also includes strategies to make the process easier and less stressful, including redesigning your environment to support your debt payoff goals and rewarding yourself for reaching milestones.
 
 00:06 Introduction to Money Moxie Podcast
 01:01 Recap of Previous Episode
 01:41 Understanding Your Debt
 02:35 Strategies for Paying Down Debt
 04:38 The Importance of Paying Down the Principal
 06:34 Finding Extra Money to Pay Off Debt
 08:50 Automating Debt Payments
 09:34 Continuing the Debt Payoff Process
 10:22 Making Debt Repayment Easier
 12:00 Designing Your Environment for Debt Repayment
 14:32 Rewarding Yourself During Debt Repayment
 16:32 Summary of Debt Repayment Tips
 17:18 Conclusion and Invitation for Feedback
 
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