Paying off debt champions

Sometimes when you are in the midst of trying to pay off debt, the task seems so huge. I know many people just give up assuming they will always have debt hanging over their heads.

MSN has an inspiring article on people that paid off thousands of dollars in debt much quicker than you would think possible.

The main ways they got out of debt:

“Among other things:

  • They made debt payoff a priority, although most continued to save for retirement as well.
  • They kept their basic living expenses as low as possible.
  • They looked for creative ways to speed up their debt repayment, and some took extra work. (Cards, for example, volunteered for overtime and took a second job. Wilkinson, a lawyer, moonlighted as a package loader on a FedEx loading dock.)”

Some other ideas in the article:

  • go on a clothing fast and not buy clothing
  • spend like you are broke and in college
  • only basic TV
  • keep track of your progress

You can read the whole article here:

Huge Debts, Paid Off Fast

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