![]() ![]() He mentions the old proven method of reducing multiple small debts, I am guessing credit and store cards but keeping the house mortage. I will read the book, but running through the points made about it, I doubt he labels 'all debt as bad.' The suggestion at the time seemed to be that all debt is bad, I dont agree. I have not read this book, but it was mentioned in a Topic I started about GOOD DEBT / BAD DEBT Invest 15% of household income for retirement. Save a proper emergency fund that is 3-6 months of expenses. Repeat until all debts except the house mortgage are paid off. When the smallest debt is paid off add that money to the payments of your next smallest debt. Use any available money to pay as much as possible to the smallest debt. Make only the minimum payments on all except the smallest debt. This means to list all debts arranging them by smallest to largest amount. Get out of debt using the debt snowball. Secure a healthy nest egg for emergencies and set yourself up for retirement Recognize the 10 most dangerous money myths ![]() Break bad habits and make lasting changes when it comes to your relationship with money Design a sure-fire plan for paying off all debt-from your cars to your home and everything in between This fellow has written a book The Total Money Makeover: Classic Edition will give you the tools and the encouragement you need to: ![]()
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