Hi Everyone,
I would like to share my three step process for reducing debt and getting control of your personal finance.
I use a combination of three applications.
Readyforzero.com
YOU NEED A BUDGET
Wunderlist
I use ready for zero to automatically come up with a debt snowball, this way it is predetermined which debt will receive the largest payment. Ready for zero also shows you which debt will be payed off by a certain date to keep the motivation going. You can set a monthly goal of how much you can afford to pay towards debt and figure out what your debt free date will be.
You Need A Budget is where the real process is. I make sure to enter all my daily spending as it happens and know how much is left in each category on the spot. As of right now I have a capital one credit card that is paying itself with just rewards as I snowball other cards first. Ynab helps me make sure that my monthly spending is payed off at the end of the month. This way I am not paying credit just to use credit(the way the credit card company designed it for you to stay in debt).
Finally I use Wunderlist to be accountable of all my bills. Bills are listed along with due dates and must be paid in order. As each bill is paid off I check it off and it automatically populates for the next month.
I hope this can be of value to anyone trying to get off the sidewalk or looking to save up for their future startup.
I would like to share my three step process for reducing debt and getting control of your personal finance.
I use a combination of three applications.
Readyforzero.com
YOU NEED A BUDGET
Wunderlist
I use ready for zero to automatically come up with a debt snowball, this way it is predetermined which debt will receive the largest payment. Ready for zero also shows you which debt will be payed off by a certain date to keep the motivation going. You can set a monthly goal of how much you can afford to pay towards debt and figure out what your debt free date will be.
You Need A Budget is where the real process is. I make sure to enter all my daily spending as it happens and know how much is left in each category on the spot. As of right now I have a capital one credit card that is paying itself with just rewards as I snowball other cards first. Ynab helps me make sure that my monthly spending is payed off at the end of the month. This way I am not paying credit just to use credit(the way the credit card company designed it for you to stay in debt).
Finally I use Wunderlist to be accountable of all my bills. Bills are listed along with due dates and must be paid in order. As each bill is paid off I check it off and it automatically populates for the next month.
I hope this can be of value to anyone trying to get off the sidewalk or looking to save up for their future startup.
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