Step 8--Begin Paying Down Debt
- Leslie Lewis (she/her)
- Aug 1
- 2 min read
Debt can be a useful tool, but if it starts feeling oppressive, there are many ways to get out of that cycle. In Step 8, we take the information gathered in Step 6, Assess your Debt, and we begin paying it down.
The video for step 8 is HERE.
The last post on step 8 is HERE.
In addition to the resources listed in the video and the last step 8 post, if debt is totally overwhelming, there's also National Debt Relief, who can help with a free consultation. That link is HERE.
This step is such an important precursor to investing, because getting a handle on personal debt will take pressure off the need for investments to make money quickly. Our investing philosophy requires a long time horizon, (at least 5 years) and handling debt is a key component to make that possible.
What are your thoughts on debt? Let us know in the comments! And as always, thanks for reading this.
Quick Links:
Step 1 in the MGB Investing Starter Kit process is HERE
Step 2 is HERE --Keep a 'Digit Tally', like You Need A Budget or RocketMoney or our free tracker template HERE
Step 3 is HERE
What is Investing? is HERE
What is The MGB Investing Starter Kit? is HERE
To buy our self-paced investing course for $49, sign up by clicking HERE.
For the 90 min live zoom class in Black History Month for $98, click HERE.
To purchase the recent grad course for a young person, for $265, click HERE.
To register for our 6 month course, cost $795, click HERE.
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