This plan is not new, but it works. It is designed to keep us motivated while we pay off our debts. There are many philosophies about how and which debt, in a line-up of debts, to pay off first.
Dieticians estimate that 95% of people who lose weight during a diet will put the weight back on once they stop the diet.
Now that we have a better understanding why we create debt, let’s look out for these pitfalls and try to avoid them.
We create debt when our expenses exceed our income. That sounds so obvious. If you Google “what causes debt” it renders 203 million results.