SmartPreneur
Advertisement
  • Home
  • Trending News
  • Brand Insights
  • Profiles
  • Hustle Life
  • Weekend Teaser
  • Radio
  • TV
  • Games & Quizzes
No Result
View All Result
  • Home
  • Trending News
  • Brand Insights
  • Profiles
  • Hustle Life
  • Weekend Teaser
  • Radio
  • TV
  • Games & Quizzes
No Result
View All Result
SmartPreneur
No Result
View All Result
Home SME

Pay Off Your Debts In A Stress-free Way With These 4 Tips

Blessing Osazuwa by Blessing Osazuwa
January 26, 2022
in SME
0
Pay Off Your Debts In A Stress-free Way With These 4 Tips
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

It’s a new year and being debt-free is the goal for many in 2022. The thing about owing money is that it can be overwhelming and scary at times — but it doesn’t have to be. What you need is a plan to pay down your debt in a way that’s feasible and agrees your budget.

Join our communityJoin our communityJoin our community

Here’s exactly how to pay off your debt in a stress-free way.

Find out how much you actually owe

Get a clear picture of how much you owe and who you owe it to. Figure out how much you actually owe, the interest, and the time period given for you to pay. This setup will allow you see things clearer especially when you have multiple debts to sort out.

Eat the frog

Once you have laid everything out on the table, you can start figuring out a way to pay it off.

If you owe multiple debts, you can address the biggest debt first. Owing money in itself is overwhelming, now combine that with owing huge sums. Feels like a life sentence right?

Plan Repayment Into Your Monthly Budget

Once you have arranged your debts from biggest to smallest, start planning to pay them off. You have to factor in your debt repayment into your monthly plans or budget. Fix the amount that you have to direct towards paying off. This can be a bit difficult but to ensure you stick to this, you may want to set up an automatic monthly payment.

As you focus on paying down your biggest debt, continue to make the minimum payments on all your other debts. Once you have your highest priority debt paid off, move on to the next one.

Repeat Cycle

Once you pay off one of your debts, move on to the next, apply the previous steps mentioned until you have paid off all the money you owe!

Conclusion

Your mind should be at peace now with these tips. With patience and determination, you’ll get closer to becoming debt-free.

And if you want to pay down your debts faster, the best way to do this is to increase your income. You can take up a side hustle or gig that won’t be expensive to maintain or grow.

Tags: Being debt-freeDebt-free 2022Entrepreneurship tips 2022Nigerian businesses 2022Nigerian entrepreneursRoad map to being debt-freeSmart entrepreneur
Previous Post

Crack the Code: 4 Sharp Ways To Grow Your Side Hustle Income In 2022

Next Post

4 Business Resolutions You Can Make And Easily Keep In 2022

Blessing Osazuwa

Blessing Osazuwa

Blessing does the research to bring you needed information for success.

Related Posts

Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.
Trending News

Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

by Ruth Okwumbu-Imafidon
March 22, 2023
0

Nigerians using MailChimp will have to pay 7.5% more from April 20, 2023, as the company is set to implement...

Read more
2023 VALUE4HER Women Agripreneurs of the Year Awards: Call for Applications
Trending News

2023 VALUE4HER Women Agripreneurs of the Year Awards: Call for Applications

by Ruth Okwumbu-Imafidon
March 17, 2023
0

The Alliance for a Green Revolution in Africa (AGRA) has launched a call for applications for the 2023 Women Agripreneurs...

Read more
Stop These 5 Common Online Business Mistakes and Achieve Success
SME

Stop These 5 Common Online Business Mistakes and Achieve Success

by Blessing Osazuwa
March 13, 2023
0

Starting an online business can be tough, especially with so much information available online. It's easy to get lost in...

Read more
Celebrating Women's Month: Ways To Appreciate Your Female Customers and Employees
SME

Celebrating Women’s Month: Ways To Appreciate Your Female Customers and Employees

by Blessing Osazuwa
March 8, 2023
0

March marks the celebration of Women's Month, a period to honour the accomplishments of women and their notable impact on...

Read more
4 Essential Tips for Keeping Your Business Safe On Election Day
SME

4 Essential Tips for Keeping Your Business Safe On Election Day

by Blessing Osazuwa
February 23, 2023
0

The Presidential Election in Nigeria is a significant event that can impact businesses of all sizes. On the day of...

Read more
5 Ways Entrepreneurs Can Seize Opportunities As Nigeria's 2023 Presidential Election Approaches
SME

5 Ways Entrepreneurs Can Seize Opportunities As Nigeria’s 2023 Presidential Election Approaches

by Blessing Osazuwa
February 20, 2023
0

The buildup to the Presidential election in Nigeria is a time of heightened political activity and anticipation. Entrepreneurs can find...

Read more
Cracking the Code: How to Win Over Gen Z Consumers
SME

Cracking the Code: How to Win Over Gen Z Consumers

by Blessing Osazuwa
February 1, 2023
0

Generation Z, those born between 1996 and 2012, is an important demographic for businesses to consider as they are becoming...

Read more
Load More
Next Post
4 Business Resolutions You Can Make And Easily Keep In 2022

4 Business Resolutions You Can Make And Easily Keep In 2022

Please login to join discussion

Recent News

Win Free Product Shoot In the #CaptureMyBusiness Challenge

Win Free Product Shoot In the #CaptureMyBusiness Challenge

March 24, 2023
Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31

Register now: Smartpreneur Webinar & Panel Discussion comes up on March 31

March 24, 2023
Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

Mailchimp users will now pay 7.5% more as VAT from April 20, 2023.

March 22, 2023
The Power of High-Quality Product Photos for Boosting Your Ecommerce Site's Success

High-Quality Photos: The power of visuals in Boosting Your Ecommerce Business

March 22, 2023
SmartPreneur

© 2020 SmartPreneur

Navigate Site

  • Home
  • Trending News
  • Radio
  • Games & Quizzes
  • TV

Follow Us

No Result
View All Result
  • Home
  • Trending News
  • Radio
  • TV
  • Hustle Life
  • Brand Insights
  • Profiles
  • Game & Quizzes
  • Weekend Teaser

© 2020 SmartPreneur