Читать книгу Sort Your Money Out - Glen James - Страница 31

If you're in consumer debt on one hand and on the other hand have cash savings, it's probably because you don't have a solid money system in place and/or you're conflicted and have a mash-up of logic and emotions in your mind. That's okay: you're in the right place.

To be absolutely clear, once you have resolved that you are ready in step 1, you need to put all cash savings above $2000 to your smallest debt in the debt snowball to smash it out ASAP. If this is scary for you, don't do it all at once.

Some steps to assist in emotionally moving money from savings to debt could be:

 deciding that you are no longer saving any more money and each pay allocate your savings money towards your debt

 breaking your savings up: if you have $4000 in savings on top of your $2000 emergency fund, you could move, say, $500 per week onto the debt (if it hurts too much moving it all in one go): now you're wading into the water

 jumping into the water once you're in waist deep! Check your emotions after the first couple of payments towards your debt, and if you're feeling good, bite the bullet and transfer the rest of your additional savings (but not the emergency fund). I am being cheeky here, but remember: you wouldn't borrow money on your credit card or a personal loan to have that money sitting in a savings account earning virtually zero interest, would you? (Don't answer that!) If you are not feeling satisfied with paying down your debt, you could always get back into debt — but how's that been working for you?