3 Steps to Help You End the Year Debt Free

We are gradually getting to the end of the year.

If you want to end the year debt free, these 3 simple steps will guide you.

1. Separate your needs from your wants.

This is pretty simple, but it requires discipline. Keep track of every Naira spent for a week or two. Then, divide your expenses into needs and wants. Subtract your needs from your income so you know how much you have left. Choose your top priority wants, and let the rest go.

2. Squeeze more savings out of your budget.

3SIt may feel more comfortable to have some extra cash in your bank account, but it is not ideal for someone who needs to settle debts.

Pay off high-interest debts with a large portion of your savings to avoid accruing interest on your existing loan balance.

3. Start a side hustle.

A lot of people work full-time, yet run a successful blog or YouTube channel.  A side hustle can be challenging, it forces you to step outside of your comfort zone and try something new, but the benefits of success outweigh the challenges, so it's worth a try.

Examine your skill set and monetize one that you know you're good at.

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