Today's Lesson would be learning from bigtime celebrity money makers.

Ive seen people with a hundred credit cards on their wallet but fail to invest in something worth investing for.

Here are many things that you can do to help gain control over your finances, but nothing will help you if you don’t start paying down on the amount of outstanding debt you currently have. There are basically four steps to start chipping away at your credit card debt; Prioritize, Snowballing, and last but not least, Maintaining.

Prioritize - You can’t move forward until you know exactly where your at. Make a list of all your debt. Figure out which ones are the most important. Rent or Mortgage, utilities and the like are mostly set budget amounts and are non-negotiable so you will need to look at the other debt you have. For more info on this one, I found a site that thoroughly discuss the topic of home insurance qoutes. Check the interest rate on each credit card and write that on your list. Once you know where you stand then you can take the next step.

Snowball - Once you have figured out which cards have the higher interest rate, then start paying more on that particular card. The term snowball comes from the amount of progress you make on this type of payoff. When you first begin, the impact is minimal but as you go, the progress becomes faster and faster because you are not paying interest on a higher balance. It will work, just be patient.

Maintain - Once you have your debt under control, it’s important to keep it that way. There may always be emergency expenses that come up, but if you have taken these steps and kept your debt down, then just apply the same principles to your newly acquired debt and you’ll be back to debt free before you know it. One thing you might come across is another car insurance. Make sure youre equipped with your knowledge before hand.

That's it for today's lesson guys! Hope to see you soon as im planning to tackles celebrity diseases about money making. Sounds interesting? Do come back and find out!


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