Getting Started Guide to Paying Off Debt

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Andres Gutierrez walks through the basics of getting out of debt. The suggestions he makes in the video are listed below. Get moving on this today to free up your income and build wealth for your family!

Steps for getting out of debt:

  • Save $1,000 as a starter emergency fund.
  • Make sure you are current on all bills.
  • List your debts, smallest to largest, regardless of interest rates.
  • Pay the minimum payment on all of your debts except for the smallest.
  • Put any extra money toward your smallest debt. Attack it with a vengeance!
  • When you pay off your smallest debt, use the extra money to work on your next debt.
  • Continue paying off debts in this fashion, knocking out bill after bill, until you are debt-free!

Andrés is heard daily on the radio as host of El Show de Andrés Gutiérrez. The founder of a successful financial planning company, Andres joined Dave Ramsey's team in 2009 with a mission to bring hope and financial peace to the Hispanic community one family at a time. In addition to hosting live events for businesses and churches, he teaches financial peace in Paz Financiera, a six-lesson video series exploring the principles of personal money management.

Andres is affectionately known by his radio listeners as El Machete. He lives in Brentwood, Tennessee with his wife Zaira and his three children.

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