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b'You can\\u2019t borrower your way out of debt.\\xa0 There\\u2019s only one way to get rid of it.\\xa0 Pay it off. 1) What where do I start? Stop borrowing money.\\xa0 Send your Visa & Master Card divorce papers. 2) Which debt should I pay off first? Smallest balance first, regardless of interest rate.\\xa0 Pre-paying neutralizes compounding interest on revolving debts. Take min mo pmt, add 10% of your net pay.\\xa0 Divide that number into the balance of the debt.\\xa0 Divide that by 12.\\xa0 That\\u2019s how many months until you pay the debt off. Example: $1,000 balance.\\xa0 $20 min pmt = 50 mo or 4 yrs to payoff.\\xa0 That doesn\\u2019t account for revolving interest, which takes longer. $20 min mo pmt plus $60 extra.\\xa0 $1,000 balance divided by $80 = 12.5 mos to payoff or 1.5 yrs. 3) What about interest rates? They\\u2019re nothing but rent payments.\\xa0 Interest paid is rent for the use of someone else\\u2019s money.\\xa0 They borrower it at, say .50% and they\\u2019re lending it to you at 4.5% for house, up to 29% on credit cards.\\xa0 Who\\u2019s getting the best deal in that equation? \\xa0 Closing: Borrowing money is fast and convenient.\\xa0 Ask why are you doing it your entire life?\\xa0 When does it stop? \\xa0 Resource: Piece of paper, something to write with, and calculator. Get in touch.\\xa0 Podcast page.\\xa0 email or voicemail button. \\xa0Coaching is available. I\\u2019m Greg Whitaker reminding you: Get Your Mind Straight.\\xa0 Get Your Money Straight \\xa0 Debt Shepherd 2017, All Rights Reserved'