Tackling Newly Acquired Debt
If you have newly acquired debt, here are some suggestions on how to tackle them without getting overwhelmed:
- Take a breather and remember that things happen all the time, you're not alone.
- Review all credit card statements and other potential bills, list them down cohesively (due dates, amounts, creditors) on a notebook or an excel sheet.
- It is recommended to tackle high-interest accounts first, but you can also take inventory of what works best for you.
14
83 reads
CURATED FROM
IDEAS CURATED BY
The idea is part of this collection:
Learn more about moneyandinvestments with this collection
The impact of opportunity cost on personal and professional life
Evaluating the benefits and drawbacks of different choices
Understanding the concept of opportunity cost
Related collections
Similar ideas to Tackling Newly Acquired Debt
Ways to budget when you're broke
- Avoid immediate disaster. Request bill extensions or payments plans from creditors.
- Prioritize bills. See which bills must be paid first and set up a payment schedule based on your paydays.
- Ignore the 10% savings rule. It...
Budgeting your money is the cornerstone of a sound financial plan, and seeing all the numbers in black and white can offer valuable perspective on where your mone...
WES MOSS
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates