Category Archives: About Maura

Welcome to Happy Deal Happy Day! Here you’ll find honest product reviews, movie recommendations, easy to follow YouTube tutorials, and reader’s favorite 30-day Budget Bootcamp.

Ideas on How To Begin Paying Down Debt

Ideas on How To Begin Paying Down Debt

Join us for Day #5 of the 20 Day Budget Challenge where we will talk about how to begin paying down debt right now!

Now that you have your budget in place, and you have discussed plans with your financial partner, it’s time to come up with an official plan of attack to pay down debt.  There is no more time to wait to pay down debt.  So don’t let another 24 hours go by without coming up with a plan to relieve yourself of the burden of debt.

Here are 6 great tips to follow on How To Begin Paying Down Debt:

  1. Record on a piece of paper or word processor who you owe, and how much you owe. Include loans, (student, car, mortgage,) credit cards, and even money you owe friends or family that may be undocumented.
  2. Then rewrite this list starting with your smallest bill owed, until you have listed them all in order of amounts from least to greatest.
  3. Now focus on just your smallest bill and plan to attack that one bill with every single extra penny you can find. (start by finding things around the house to sell on Ebay or apps like LetGo.)
  4. Set your mind to it to send that one debtor every single extra cent you can find each month until you have it paid off!
  5. Enjoy knowing that you do have the power to control your finances, and that one day you will be free from the bondage that comes from being in debt.
  6. Find a way to CELEBRATE each time a new debt is paid off! Take your budgeted fun money and get a cup of coffee and dessert. Nothing expensive – but take the time to acknowledge and celebrate your hard work!

I love step #4 – because it sounds like a fun game to me. Since I’m pretty competitive, I’d be sure to be all in. I’d be on a treasure hunt finding everything I could to make that extra payment. 🙂

Other strategies for the fastest way to pay off debt:

1)  Halt your credit card spending.

If you aren’t paying off your credit card bill in full on a monthly basis, then STOP using it!  Cut it up if you have to! 

If online shopping is still too tempting, simply delete credit card information from online stores so online shopping isn’t an easy few clicks away (especially on Amazon where you can purchase items with just one click!)

2) You need to do this with your extra money.

Put work bonuses, gift money, found money, refund money, or any extra money you earn outside of your normal income – put it toward paying down your debt.

3) Continue selling unwanted gifts and household items. 

Don’t give up on this, even if an item takes awhile to sell.  These small bonus sales add up to hundred’s that you can put toward debt!

4)  Do your living expenses need to radically change? 

Do you need to sell your car and down grade to a cheaper car?  Do you need to move to a place that costs less?  Do you need to find a job that pays more?  These are big decisions to make, but you may need to make them for the long term to keep yourself out of debt.

5)  DON’T GIVE UP!!!!!

Celebrate with us over in our Facebook Group as well – we can all “like” it when you reach a new goal and support one another on our journey to being debt free! Add your ideas of how you are “finding” extra money each month to pay off that debt! Are you cutting cable? Are you quitting Starbucks for a month? Are you selling something? Let us know and we can cheer each other on!

This post is part of a FREE 20 Day Budget Challenge.  To get all of the info right in your inbox, sign up below:

20 Day Budget Challenge

Take one month to get your finances in order - learn my best money saving tips and tricks!

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

 

 

20 Day Budget Challenge: Ideas on How To Begin Paying Down Debt

Check out more from this 20 Day Budget Challenge:  

Marketing Strategies:  Why Are Cereal Boxes Staring At Your Children!!!!

Marketing Strategies: Why Are Cereal Boxes Staring At Your Children!!!!

Maybe you have already noticed this marketing strategy, and maybe you haven’t.  But have you ever walked down the cereal aisle and paid attention to where the cartoons are looking?  More often than not they are looking either down or to the side.  Why is this? What are the best marketing strategies to use? There… Continue Reading

Free Printable Wall Art – “Thankful” Fall Printable

Free Printable Wall Art – “Thankful” Fall Printable

Today I’m going to give you free printable wall art for your home that is an easy and frugal way to decorate.  I love being able to decorate my house with simple and affordable ideas – even if it means just printing out an inspirational message and framing it!  I love up-cycling decor projects such… Continue Reading

Dosh App – How To Save Money On Your Next Take-Out Order!

Dosh App – How To Save Money On Your Next Take-Out Order!

Dosh is a cash back app that finds you money while you are shopping (online and in-store), dining out, and traveling. This app is simple to use: Download the app     Link your credit card Live your life.   What is the Dosh App? The Dosh App connects you with merchants and other businesses in… Continue Reading

Custom Monthly Menu Plan Printable Using MyFreezEasy Meal Plan App!

Custom Monthly Menu Plan Printable Using MyFreezEasy Meal Plan App!

This post is part of my 20 Day Budget Challenge – How monthly menu plan printables will save you money!  Sign up for the full budget challenge here! Other than clipping coupons, or cutting costs with these frugal habits, monthly menu planning is the best tool I’ve found to save both time and money in the kitchen.… Continue Reading

How To Clean The Interior Of Your Car In Record Time Without Spray Cleaners or Paper Towels

How To Clean The Interior Of Your Car In Record Time Without Spray Cleaners or Paper Towels

I’m about to show you the best clean car hack I know! Does this sound like you? You wish you could wave a magic wand every day to get a clean car. You’ve told your kids not to put their dirty shoes on the back of the driver seat, (but they inevitably do anyway)? You… Continue Reading