Women in Red: Pay down massive debt in a hurry
Have you ever paid off debt? $1,000? $10,000? Several years ago, when I made the last payment on a credit card balance that had once topped $5,000, I was pretty proud of myself. But that $5,000 was nothing compared to the crazy debt some people have managed to eliminate. I’m talking about the guy who nixes $30,000 in credit card debt in a year. Or the couple that gets crazy and wipes out $50,000 in student loans in two years. Or the family who decides to pay off their $200,000 home in 10 years instead of 30. It’s not impossible — I’ve talked to people who’ve done it.
So what’s required to take an axe to those kinds of balances? A really nice promotion? A generous inheritance? A diet of bread and water and zero fun? Actually, it’s less revolutionary than you think. And far more rewarding. Here’s how you get it done:
