You’re in the midst of your debt payoff journey. Depending on how much debt you have and your current habits, income and living expenses, it can take you some time to get out of this stage. But just remember, every dollar paid off on your consumer debt buys you back more of your freedom and time.
In this stage, focus on paying off debt and reducing your liabilities. If you don’t have a budget, now’s the perfect time to start and stick to one. Your goal is to widen the gap between how much you make and how much you spend. The bigger the gap, the more money you can put towards your additional debt payments and other goals.