Andrew GiancolaHost
First, we're gonna get into payment timing hacks, and I think these are super important for many people to think about if you are on your debt paydown journey.

You may be thinking to yourself, "Well, maybe I've got a car loan to pay down.

I've got some credit card debt to pay down, and I know I need to get rid of this stuff.

I know I need to get this paid down." Well, one of the things that you can do is what I call micropayments.

Now, micropayments are something where you still have your regular debt payment that you're making, and you're making that as large as possible every single time you have debt paydown, but you can also take small payments every few days and start to throw them at debt.

Let's say that you decide, oh, I'm not gonna go out to eat this week for work, and instead I'm gonna bring my own lunch to work.

Let's say you save $10 a day, $50 per week, and you can start to throw an extra 10, 15, $20 per day towards your debt.

What this does is over the course of a month, let's say you did $10 a day that you threw out at the debt.

How many of you out there listening right now just make random frivolous transactions that are five, seven, $10 every single day? I know I've talked to people in the past, for example, who spend more than that just going to the gas station and going inside and getting a drink and then some chips.

And so you can think of some of those transactions that you make, and if you forego some of those transactions and turn them into micropayments, it can be super, super helpful to get this debt paid down way faster.

And for those of you who have larger balances who feel as though it's not gonna make a big impact, it absolutely will, because it's gonna reduce the amount that you're gonna be paying in interest every single time you make those extra payments.

So if you set up a goal and say, for example, "Okay, I'm gonna make the minimum payment on that debt because this is what I can afford, but I'm also gonna make micropayments every single day," it keeps it top of mind.

It keeps you motivated to continue to make those debt payments, and you're just gonna start to watch that balance fall.

And that's what we want you to do, is stay motivated so that you'll be able to watch that balance fall.

And I think this is one that really, really helps on things like credit cards because it lowers the average daily balance, and so less interest is gonna accrue.

And if it's every couple of days, maybe you're making extra payments every single week, but make these micropayments.

Do this over and over and over again and you can see a major impact on the overall debt.

We teach people to do this all the time, and I think it's one of the most important things that you can do on the debt paydown journey Secondly is let's make biweekly payments on your debt.

First, we're gonna get into payment timing hacks, and I think these are super important for many people to think about if you are on your debt paydown journey.

You may be thinking to yourself, "Well, maybe I've got a car loan to pay down.

I've got some credit card debt to pay down, and I know I need to get rid of this stuff.

I know I need to get this paid down." Well, one of the things that you can do is what I call micropayments.

Now, micropayments are something where you still have your regular debt payment that you're making, and you're making that as large as possible every single time you have debt paydown, but you can also take small payments every few days and start to throw them at debt.

Let's say that you decide, oh, I'm not gonna go out to eat this week for work, and instead I'm gonna bring my own lunch to work.

Let's say you save $10 a day, $50 per week, and you can start to throw an extra 10, 15, $20 per day towards your debt.

What this does is over the course of a month, let's say you did $10 a day that you threw out at the debt.

How many of you out there listening right now just make random frivolous transactions that are five, seven, $10 every single day? I know I've talked to people in the past, for example, who spend more than that just going to the gas station and going inside and getting a drink and then some chips.

And so you can think of some of those transactions that you make, and if you forego some of those transactions and turn them into micropayments, it can be super, super helpful to get this debt paid down way faster.

And for those of you who have larger balances who feel as though it's not gonna make a big impact, it absolutely will, because it's gonna reduce the amount that you're gonna be paying in interest every single time you make those extra payments.

So if you set up a goal and say, for example, "Okay, I'm gonna make the minimum payment on that debt because this is what I can afford, but I'm also gonna make micropayments every single day," it keeps it top of mind.

It keeps you motivated to continue to make those debt payments, and you're just gonna start to watch that balance fall.

And that's what we want you to do, is stay motivated so that you'll be able to watch that balance fall.

And I think this is one that really, really helps on things like credit cards because it lowers the average daily balance, and so less interest is gonna accrue.

And if it's every couple of days, maybe you're making extra payments every single week, but make these micropayments.

Do this over and over and over again and you can see a major impact on the overall debt.

We teach people to do this all the time, and I think it's one of the most important things that you can do on the debt paydown journey Secondly is let's make biweekly payments on your debt.
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