This morning on Clay & Company, we were talking about all of the debt that we have and the strategies that we have to combat it. Some work. Some don't. Money expert, Dave Ramsey has a ton of information, but he suggests quite the process, but they boil down to ideas like this.

  1. Start by listing all of your debts except for your mortgage.
  2. Put them in order by balance from smallest to largest. All your school, credit card and car...whatever it may be. Just leave mortgage off.
  3. This is called the debt snowball method, you pay off one by one, but you start with the lowest one. Get one victory at a time.

START NOW. Not next month. NOW.

Do you have any other methods to cutting down your debt? What has worked for you before?