5 Tips To Get Out of Debt This Year

If you have made a firm decision that you are truly ready to get out of debt, then this video is just for you. We outline the 5 tips that you need to know in order to finally get out of debt this year.
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We’re gonna be talking about five tips To get out of debt this year coming up Stay tuned [Music] Hey I’m Tyler and I’m ty and we’re from His or her money calm where we’re Teaching you how to have better money Become a better couple and live a better Life This video is being brought to you by Legal in general America everyone knows Why life insurance is important but many Of us choose to ignore the reality of What would happen if we were to die Suddenly without proper protection the Results can be devastating for your Surviving family members leaving them With a large bill for your final Expenses or even worse loss of the Family home because they can no longer Cover the mortgage term life insurance Gives you peace of mind at a price you Can afford certain life insurance allows You to meet your financial obligations Today while still protecting your Family’s future tomorrow if you don’t Currently have a life insurance policy You are not alone According to Life Insurance statistics And facts which is a report put out by The life insurance industry about 43% of The population don’t own a life Insurance policy in any amount while Buying life insurance doesn’t have to be

Complicated legal in general America Make it easy for you to protect your Family’s financial future as one of the Nation’s leaders and low-cost high Quality life insurance to over 1.3 Million families they know how to Protect you Legally general America makes Understanding and applying for life Insurance easy you can get a free quote By going to his or her money com4 slash LGA the links are also in the Description box below here it is we are Ready for a new year and it is time to Take the journey to debt freedom serious Because I think we all know especially If you’ve been rocking with his and her Money for a while we don’t do that we Don’t like it it is a roadblock it’s a Hindrance it’s keeping you from being All that you can be and so we want to Give you some tips to help you get Started moving in the direction of Freedom alright tip number one is you Have to believe that it is possible any Change that you want to partake in Whether that’s financial health goals Relationship goals any type of change New habit that you want to develop In the mind it starts with you first Believing that this new thing that you Want to do or accomplish is in fact Possible and so this is no different you Need to know that no matter what

Mountain of death that you’re facing Because it may seem overwhelming it may Seem colossal but the truth is people All around this world every single day Are doing what they have to do in Accomplishing debt freedom so the first Step for you is to know that yes you can In fact become different number two is Organize your day so we want you to Collect all of your debt so you want to Make sure that you put your credit Reports you want to make sure that you Ask family and friends find out even Some of the small debt that you may own Maybe to the library and things like That but collect all of your dick we Want you to then organize it I don’t a Google sheet on your telephone or you Can use pen and paper but we want you to Make a list of all of your debt and Collect that information because you’re Gonna need it to come up with your plan Of attack now while we’re also coming up With our plan of attack for our debt we Cannot forget what we tell you guys to Make sure that you have in place and That is life insurance we want to thank This video sponsor illegal in general America you can go there and apply for Term life insurance the process is not Complicated whatsoever the application Process is also free and once you gather Your information you can make the choice Whether or not you would like to insure

Your family you want to make sure you Think about who would be impacted if you Are no longer working so go to his or Her money calm for /lg a to apply for Free The links are also in the description Box below alright so next is focus on One debt at a time you want to make sure That you list your debt from smallest to Largest balance which is also called the Debt snowball it is the process that we Personally love to recommend to those Who are always asking how should I pay Off my debt well we highly recommend Listed from smallest to largest balance Why because you’ll have smaller wins a Lot quicker and it will kind of give you The momentum to keep going this part is Very very very very important so Therefore once you come up with you Extra money maybe from scientist holes Or extra money that would be left over From the budget you’ll know which debt To throw that at first which will be the Smallest balance first once you pay that Balance off first then you want to make Sure that you go to the next smallest Balance which is the next step okay and Just keep it going until it’ll keep Rolling rolling hits called the debt Snowball alright the next thing you want To do is automate the process it is so Much easier when you put some of this Debt payoff process on automation

Instead of having to make the decision Month after month how much am I gonna Send to this day how much am I gonna Send to that day maybe you can just add For us if you think back to our story Where we talked about how we paid off Our home in five years one of the first Things we did was we knew we couldn’t Send a whole lot of extra money on top Of our principal payment but we could Commit to $20 and it wasn’t us every Single month sending in the $20 manually Extra 20 we sent the extra 20 through Automation we called them up set it so That on a certain date every month that Extra $20 was automatically taken from Our account and applied to the debt and What that does is psychologically you Get used to not having that particular Amount whatever your amount is to spend Frivolously instead the power of Automation is helping you to achieve Your debt freedom goals that much faster So look at all of the stuff after you’ve Taken the time to organize it is there Any of these payments or any additional Payments on top of your minimal payments That you can’t automate and help you Take your hands off and achieve your Goals sooner that’s right I highly Recommend also that you rounded to and Lease the very least that you can do is To the nearest dollar I like to have payments paid and whole

Numbers so that’s something small and Achievable that you can definitely do to Get a small start number five you want To track your progress you don’t want to Put in all this work and then not have a Way to measure if the work that you’re Putting in is actually working and so It’s important to know where you start I Have this much debt then 30 days in take A look okay what have we done this far Then 60 days in how much have we done This far because when you can see Progress and motivate you to keep going Instead of just going through the motion And going through this process we After week month after month not knowing How much progress you make that is a way To burnout and to give up but a way to Increase your longevity in the process Is to know not only where you started Not only where you’re trying to get to But where you’re at along the journey Measure steps after steps progress at The progress this is not about Perfection this is not just about going From starting line to finish line but It’s about the journey so make sure that You are tracking your progress to debt Freedom that’s right and there are a ton Of free printables online you can do a Simple google search there’s also some On Pinterest that will help you track Your debt it’s a lot of fun to kind of Color in you know certain sections

Therefore you can see a visual Conception of man this is how much debt We’re paying off so we want to hear from You in the comments is this the year That you get out of debt and if so tell Us about it in the comment section Because we want to cheer you on right we Want you to use the steps that we’ve Given you in this episode to aid you in The process of debt freedom that’s right If you loved this video give it a thumbs Up don’t forget to share it hit that Little share button below and if you’re Not subscribed to our channel hit that Little subscribe that little subscribe Button there with the little bill to be Notified anytime we put out new videos Don’t forget also check us out over at Our website at his-and-her money.com So we got for this time guys it’s been Great till next time peace [Music] [Music]

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