How to Reduce My Debt

How Can I Reduce My Debt?

That is why this website exists.

This website is being built to share how we, in our personal lives and businesses, have been working to reduce our debt. As time proceeds, we will also include ways others are working to do the same: reduce what they owe.

There is not one method that is right for everyone.

Some people focus on one debt at a time. Some make additional payments. Some accumulate money and make larger payments. Some use a snowball or highest-interest approach. Some consider consolidation. Others look at entirely different ways of managing what they owe.

We will look at those approaches, but we will also look at the other side of them.

What are the benefits? What are the drawbacks? What might you save? What could it cost? What happens if circumstances change? Does the method require a level of discipline that may be difficult to maintain?

The purpose is not to tell you that there is one correct way to reduce debt.

What We Share Here

What we share on this website is not a guarantee that a particular method, idea, or approach will work for you. The content may not even reflect how you feel about debt.

You may read about something someone else has done and decide you would never do it that way.

That is okay.

We are sharing what we have learned, what we have tried, what others have done, and what the numbers may show. Some of it may be useful to you. Some of it may not be.

You may find one approach that works for you. Or you may take one piece of an idea from here, another piece from somewhere else, and something from a completely different approach and put them together in a way that works for your situation.

That works for us too.

If something we share helps you reduce what you owe, make a better decision, or find your own way of dealing with debt, that is a win for you.

It can be a win for us too, but only if you let us know.

Tell us what worked. Tell us what did not. Tell us if you changed an idea to make it work for you. Tell us if you combined several approaches and came up with something completely different.

We have included this post in case you want to learn a little more about debt and what it is.