LST Zine 2 - Page 19

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The first thing I did was set a game plan. I googled excel sheets because I am a visual person. The great thing about this excel sheet is that in allows you to input all your debts, their percentage rates; you can input your additional amount per month you want to pay and they will give you the best method of paying things off and what date you can expect each payment to be complete.

You can find this tool at the : https://www.vertex42.com/Calculators/debt-reduction-calculator.html .

After setting a game plan, I cut up all my credit cards, as I would face the dilemma of paying everything off only to reuse them again as impulse.

I began meal prepping on my weekends and this alternative was so much healthier and it was easier.

I also set up part of my direct deposit to be placed into a separate savings account online, my preferred bank was : https://www.ally.com in which they are now offering 1.15% on your balance and interest is accrued monthly.

As you often hear, you can put extra money towards your balances. This is often easier said than done but it help tremendously even if you’re adding $50.00 dollars it makes a huge difference.

I’m still working on getting my debt down; and I have hit a few speed bumps along the way. However, I can admit that once I began to keep a clear head and write down my agenda. I was able to tackle many of the debts. In the Black community, we are easily swindled into paying things with credit cards or financing it with leasing options. I’m here to tell you to avoid it as much as you can. If you really want that new iPhone 8; save up for it. Trust me it isn’t going anywhere. Anything that is of limited edition isn’t something that you need. These corporations are aware of the necessities in life and there is nothing worth spending large amounts on just for the brand name. Plenty of celebrities will tell you they shop at Walmart, majority of the designer labels they wear are donated to them just to get consumers to spend money.