I don’t give a shit what social media says.
There’s nothing wrong with paying down debt by:
- rounding up monthly credit card payments;
- putting bonuses, tax refunds or extra paychecks toward credit card balances;
- doing 0% balance transfers;
- getting a debt consolidation loan;
- cashing out your IRA;
- borrowing money from your 401k plan.
None of these are bad strategies.
The strategies themselves aren’t the problem.
The strategies haven’t worked because you’re implementing them without a plan.
You don’t have a plan to pay off the 0% interest credit card before it reverts back to a super high interest rate.
You don’t have a plan to make monthly payments to your new debt consolidation loan in addition to the monthly payments on the credit cards you haven’t stopped using.
You don’t have a plan that accounts for car repairs, house maintenance, health expenses, vacations, Christmas, etc.
You don’t have a plan that helps you stop overspending and reliably put money into savings.
You’re winging it financially, and it’s not working.
You need a plan for your debt payoff.
You won’t get out of debt for good without one.
I can guide you step-by-step in creating a kickass plan for your money.