Debt Reduction Tips - Evaluating Personal Debt

Host: How do I evaluate my personal debt?

Linda Stroman: Well basically, you have to analyze and look at the big picture so that you look at all your debt, what you have not just the minimum monthly payment that you make on it or the regular monthly payment but basically, what you did as overall. How large is that load?

So if you have a car payment, don’t just look at the note of $200.00 a month but look at the whole value of $20,000.00 that you have to pay off. And when you look at that then you want to look at your budget.

As we talk about earlier, look at your budget and see what’s affordable as wise payments. Look at your interest rates and see if you can lower those interest rates noted to have a lower payments. So if you just want to do a personal evaluation, just kind of sit out and spread out all your information and see what changes you can make to it based on the budget that you built.


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