From the course: Become Your Own Boss
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Three methods for beating down your bills and debt
From the course: Become Your Own Boss
Three methods for beating down your bills and debt
- Now if you know you're carrying a lot of credit card debt, let's get started with how you can start to beat down your debt and position yourself to start your dream business. First and foremost, you want to start with information. Pull your credit score and make sure you get it from all three credit bureaus. The next thing you want to do is just line up all of your bills and look and see what they are and what their interest rates are. There are three different ways you can attack paying down your credit card debt. You can use what we call the snowball method, the avalanche method, or the snowflake method, and let me explain what each of those are. The snowball method is basically when you pull together all of your credit card bills and you start with the ones with the highest debt, go down to the ones with the lowest debt, and you just start. You can either start with the lowest debt or you can start with the highest…
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