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Q&A: How do I strategically get out of debts?

May 25, 2019 at 6:24pm

Q&A: How do I strategically get out of debts?

May 25, 2019 at 6:24pm
And is it really possible to live a debt-free life?

May 25, 2019 at 6:24pm
Alero:
Yes it is possible to live a debt free life. But you have to be delibrate and intentional about it.
We have taken lessons on how we can develop our expense profile and put on the plugs on expenses that we feel are excesses or wastages. Then using the simple template provided identify all your debts and categorise your debts into good and bad. Calculate the total.
Draw up a calculative strategy on how to pay down on your debts while you are still saving. And this should not put a strain on your finances. Work it out in a way that it is convenient but consistent till you are debt free.
Alero:
You can also discuss with the people or organisation you owe your payment plan. And I am sure no one would not want to accept a payment plan as against not paying at all.