Exercises to Strengthen Your Finances
7 Steps to a flatter debt load
- Get a blank sheet of paper
- Put it somewhere close to where you look at your bills
- Each time a bill for revolving debt comes in, mark down on the paper what the interest rate is on that loan
- After four weeks, rank each loan by interest rate, with highest rate first
- Any time you have extra money, pay the loan with the highest interest rate
- Repeat step #5 until loan in top position is paid in full
- Repeat step#5 until all loans are paid in full
Shari Storm worked at the debt counseling agency, Consumer Credit Counseling Service of Seattle for six years before coming to Verity Credit Union in 1998. Storm has her masters degree in business administration from Seattle University. She writes for Working Mother Magazine blog and MomLogic.
She is a mentor for Seattle University’s Albers School of Business graduate program and lectures at University of Washington’s Experimental College.
She is the author of Motherhood is the New MBA: Using Your Parenting Skills to be a Better Boss. She has three daughters.
Comments
Sorry, comments are closed for this article.
