Americans have declared their top priorities are to loose weight and gain ground financially. Progress begins with the belief that what is necessary is possible. Today is the time to begin your six step debt diet.
Just like any diet plan or fitness plan, expect feel deprived, fall off the wagon and hit progress plateaus. It’s a reality. So, decide, now, that you’ll get right back up and start again if you stumble and fall during next weekend’s spending temptations.
Taking Six Steps Toward Greater Financial Fitness
- 35 percent on housing related expenses (mortgage, insurance, taxes, upkeep)
- 15 percent on transportation related expenses (car payment, gas, insurance, upkeep)
- 10 percent on savings
- 15 percent on debt repayment (including credit cards)
- 25 percent on running the rest of your life (utilities, food etc.)