Читать книгу Sort Your Money Out - Glen James - Страница 27

One way of focusing on paying down debt is to have a goal that's greater than the debt itself. A useful goal is to add up all your debt and the total monthly repayments, plus the amount that is ‘left over’ from your spending plan (which I am going to show you in chapter 4). Then, do a basic calculation to work out how many months it will take to clear your debt.

As a challenge, let's try to halve that time period.

An example might be:

 $2000 credit card with a $50 minimum monthly payment

 $7000 personal loan with a $100 minimum monthly payment

 $100 per month left over from your cash flow to go towards debt repayment, goals or investing.

In this example, there is $9000 in total debt with $250 a month to allocate to debt reduction (minimum repayments plus left over cash flow). The $9000 total is divided by $250, which equals 36 months. This doesn't take into account the accruing interest, but it gives you a guide. Your goal is to pay the debt off in half that time — 18 months. The question is, for the next 18 months, can you get intentional and determined about trying to smash that debt out of your life? You will need to consider whether you can cut expenses, get more work and/or sell something (everything, lol) because your financial reason for living is to get out of debt.