INCOMEMASHUP - DEBT PAYING METHOD
What is IncomeMashup Debt Payoff Method?
The IncomeMashup Debt Payoff Principal is very simple and specially made for salary type persons who earn a constant income every month and liabilities on the head. Don't worry, Our Tutorial on IncomeMashup Method will illustrate the rule in more detail.
We divide a monthly income in 3 parts.
- First Part: 1 -10 Days
- Second Part : 10 - 20 Days
- Third Part : 20 - 30 Days
What to do in First Part (1 Days To 10 Days)
First Part From 1 - 10 Days - Mostly employees' incomes come in the first week of every month. Firstly, withdraw 10% of your total income for debt. Pay all essential bills that are essential until 10 days. For Example, if my income is $5000, then 10% ($500) for debt and leftover money only I will spend very wisely with a tight budget on necessary expenses.
Note: You should follow a tight budget until you not free from debt as well as focus spending money on only essential things or bills.
What to do in Second Part (10 Days To 20 Days)
You will have to save money for emergency funds. Our future is unpredictable, so we need to save money from 10 days to 20 days from salary for emergency funds. For example, $500 for pay off debt, $1000 I have to spend in the first part on essential things now I should have $3500 (emergency fund) according to a total of $5000 income.
What to do in Last Part (20 Days To 30 Days)
Now add 5% from the emergency fund in your debt paying payment that you withdraw 10% from your total income in the first part. For example, I did withdraw in first part $500 according to 10% rule, and 5% take from the second part( Emergency fund) $175, and you have to total collect payment is $500 plus $175 = $675. You can pay off the debt by this payment. You will follow the same principle until the debt is not gone, and one day you will have freedom from liabilities.
Note: If you want to pay the very fast debt, then you can add more percentage from the emergency fund, and you can save emergency funds according to your situation. In my case, I save less money for emergency and add almost money of emergency fund to pay off debt.
INCOMEMASHUP DEBT PAY OFF METHOD
4 benefits of This Debt Paying Method
Where this rule was come?
I had $8000 debt on head and i was confused how to pay it. But a lot of attempt and experience i create a strict plan to bye bye my debt and finally this method work very well and i paid off debt soon because i add more percentage from emergency fund to pay debt.
Baby listen, i have paid off all debt by following IncomeMashup Debt Paying Strategy.
OH MY GOD, Now we are debt free.
IncomeMashup Debt Pay Off Method is awesome tools i had over $4000 debt and i paid only by following the incomeMashup rule.
I bought my car on 12k Debt and not able to pay the amount on time and when i follow IncomeMashup Debt Pay Off Method, All cashflow control on that day.
I started my Salon by taking debt and i confused how to save money as well as pay debt but i finally landed on right place That is IncomeMashup..
Paying the $3000 Debt in 5 months only possible for me by IncomeMashup
I give Point 10 of 10 because i paid my Credit Card Debt by IncomeMashup Guideline.
IncomeMashup is right mentor for me to pay my Bike Loan in 6 Months.
( Umesh Awana)