AFSA has teamed-up with The USAA Educational Foundation to provide an educational debt management series to help you get-out and stay-out of debt.

Follow these 6 proactive steps to become a "Debt Destroyer" and free yourself of debt once and for all. Watch the videos below to learn more.

STEP 1: STOP THE BLEEDING

• Avoid new debt by getting on a cash-only diet.
• Evade temptation to spend by changing habits
• Eliminate late fees or penalties by making payment on time, even if it's the minimum.

STEP 2: BUILD A SAFETY NET

• Build a safety net of $1,000 to pay for emergencies. Hold a garage sale or pick up a second job - just don't borrow to build this cushion.

STEP 3: CONFRONT YOUR DEBT

• Analyze your debt by balance, minimum payment and interest rate.
• Strategize to avoid debt in the future.
• Minimize cost. Ask for lower interest rates. Research the Servicemembers Civil Relief Act.

STEP 4: KNOW YOUR CASH FLOW

• Create a budget - and track where your money is going.
• Need help? Watch one of our Debt destroyer videos below.

STEP 5: ADJUST YOUR CASH FLOW

• Determine how much extra cash you need to pay down your debt. Can you make a move? Spend less?
• Categorize your expenses as fixed, flexible, or fun - and make cuts!

STEP 6: PAY IT DOWN

• Pay extra on bills with the highest interest rate or the smallest balance first.
• Make a minimum payments on everything else.
• Once the first debt is paid, stick to your strategy and apply that payment to your next debt.

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#1 Stop The Bleeding

Avoid new debt, evade temptation & eliminate late fees. Watch to learn how.

#2 Build a Safety Net

Save $1,000 for emergencies by holding a garage sale, a second job or more.

#3 Confront Your Debt

Analyze your debt balance, minimum payments, and interest rate. 

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#4 Know Your Cashflow
Create a Budget and track where your money is going. Learn more now.

#5 Adjust Your Cash Flow
Determine how much extra cash you need to pay down your debt.

#6 Pay It Down
Pay extra on bills with highest interest rate or pay off the smallest balance first.

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