Debt Pay Off Strategy You’ve Likely Never Heard Of: The Cash Flow Method
Debt advice for UK people , debt solution, and debt help are all popular keywords that reflect the growing financial challenges faced by many people in the UK. One debt pay off strategy that is not as well known is the cash flow method . This method is unique in that it focuses on paying off the debt with the highest monthly payment, regardless of interest rate or balance size. Why the Cash Flow Method? The cash flow method is a strategic debt pay off strategy because it focuses on the most immediate and impactful way to improve your financial situation. When you eliminate a debt with a high monthly payment, you’re freeing up more cash flow each month. This additional cash flow can be used to pay down your other debts faster, save for other financial goals, or build an emergency fund. How the Cash Flow Method Works To use the cash flow method, you need to list all of your debts and their monthly payments. Then, order the debts from highest to lowest monthly payment. The debt with the h