Getting Out of Debt

I noticed that in other posts a lot of people were commenting on their debt. What have you been doing to get out of debt?

I have some debt. I have around $25,000 in debt for my two undergrad degrees and a part of my MBA. I also have around $6K in a car loan and of course my mortgage. I however do not have any credit card debt (thankfully!) I’m undecided what I want to do in order to pay off debt more quickly. I would like to get a second job or some kind of gig such as tutoring. I’ve also been thinking about if I should apply all of my extra cash towards paying off my loans, or if I should be building an emergency fund at the same time.

Now, here’s a ton of questions for everyone. Please share.

What kind of debt do you have? Car loans? Credit card debt from shopping?

To get out of debt have you been cutting back expenses? Have you been working extra hours or gotten a second job to pay down debt? Are you paying down all of your debt right now and also building up an emergency fund at the same time? Or are you working on one but not the other?


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