I have 11 loans of various sizes from the government, private loan, along with a car loan aka a lot of debt! I've been feeling overwhelmed by it for some time now and unsure of the best way to tackle it to feel less stressed and more in control.
After watching this course, I am excited to work on reducing my debt and working towards saving for my future! I looked into the Snowball Method that Dave Ramsey talks about. I have created the following rewards system to help me stay on track and celebrate the small and big wins! Each loan payoff calls for a proper celebration at a favorite spot along with putting a small amount of money towards my savings. Once I start knocking out the bigger loans such as paying off my car, I celebrate by saving a larger amount of money to help have a little bit more of a cushion in case of an emergency. Lastly, once the final loan is paid, I will be celebrating by planning a trip for the near future to somewhere like Italy! It will be a huge accomplishment and weight off my shoulders, so I will save accordingly and take the trip without getting into any more debt!