Paying off debt

Here's a few tips on paying off debt... Usually called the "Snowball Method"

1. Create a list of all your debts (Credit cards, loans, mortgages, student debt, lines of credit, etc). Include the amount and interest rate.
My debts are:
-credit card #1: $6,865.39 (11.9%)
-student loans: $27,268.94 (4.00%)

2. Figure out how much you can afford each month. I personally put $300 towards debt each month. No matter how much you feel you can afford be sure to pay AT LEAST the minimum towards each debt EVERY single month. This prevents your interest rate from increasing and protects your credit rating.

3. Order your debts from highest to lowest interest rate (as I did above)

4. Make the minimum payments to ALL debt except the one at the top of your list. Then pay the remainder to this top debt.
Because I'm still in school I only pay $75 towards my student loan every month (interest only payments) and the remaining $225 goes towards my credit card.

**I do have a second credit card that I use on a regular basis for things like groceries and person items. I haven't included it in my list because I pay it off in full every month.
**Additionally, I choose to pay an extra 10% towards my student loan outside of this $300. Its only about $10 depending on the month and it makes me feel like I'm making a bit extra progress each month for very little!

Once you've paid off the top debt move on to the second one then the third then the fourth... Sooner than you realize you'll be debt free!!!!

Struggling (as always),
Jenny~Z