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Kryssie Pratt
- Jul 21
- 2 min
Action # 1: Create a monthly budget
Standing in the grocery store checkout line, you swipe your debit card and secretly cross your fingers, hoping the payment doesn’t decline.
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6 ACTIONS TO PAY OFF A LOAN FASTER
without sacrificing everything you love...
After my high school graduation, I bought my first car. The year was 2006 and I drove away in a 2001 Chevy Malibu, after handing the owner just less than $3000 cash.
Six years later, that Malibu was getting less reliable and I was pouring money into it– money that I didn’t have.
I needed a new car but I had a big problem…
Keep reading to find out how I paid off a $17,251 car loan in 14 months, with a simple approach to getting rid of debt.
I had about enough money in my savings account to buy a gallon of gas, and there was no wiggle room in my budget for a car payment.
This hard fact is why I spent the next four years leasing cars, without realizing the money I was wasting.
I eventually saw the madness in leasing and put myself in a position to save enough money to buy a car.
Not only did I purchase the car, but I promised myself I would pay off the loan faster than the five years the bank was giving me.
What I didn’t know then was that I would pay off the loan quicker than I ever imagined (3.5 years quicker), and 6 simple steps would help me do it.
The best part is - I didn’t have to sacrifice everything I love or opt-in to any quick rich quick schemes.
A simple approach to eliminating debt has proven successful for me, and anyone can do it.
The road to not having a car payment all started with creating a monthly budget.
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