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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.

#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. 

#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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  • Home
  • About Us
    • AFSA MEMBER LOGIN
    • Board of Directors >
      • Retired Veterans Affairs
      • Family Matters
    • Past Presidents
    • Past Auxiliary Presidents
    • Executive Directors/CEOs
    • Chapters/Divisions
    • Headquarters Staff
    • Uniformed Services Foundation
    • Scholarships - Apply Support
    • AFSA Donors & Mission Partners
    • DONATE to AFSA
    • AFSA Store
    • AMB Benefactor Tree
    • Advertise & Sponsor AFSA
    • Employment & Volunteer Opportunities
    • Contact Us >
      • General Inquiries
      • Technical Issues
      • Website Content
  • Join AFSA
  • NEWS
    • Veteran Affairs News
    • TRICARE Information
    • Subscribe to AFSA Magazine
    • AFSA Magazine >
      • AFSA Winter 2023 Magazine
      • AFSA Fall 2022 Magazine
      • AFSA Summer 2022 Magazine
      • AFSA Spring 2022 Magazine
      • AFSA Magazine Winter 21-2022
      • AFSA Magazine Fall 2021
      • AFSA Magazine Summer 2021
      • AFSA Magazine Spring 2021
      • AFSA Magazine Winter 2021
      • AFSA Magazine Fall 2020
      • AFSA Magazine Summer 2020
      • AFSA Magazine Spring 2020
      • AFSA Winter Magazine 2020
      • AFSA Fall Magazine 2019
      • AFSA Summer Magazine 2019
      • AFSA Spring Magazine 2019
      • AFSA Winter Magazine 2019
      • AFSA Magazine Fall 2018
      • AFSA Magazine Spring 2018
      • AFSA Magazine Summer 2018
    • AFSA PUBLICATIONS >
      • AFSAGivesBack
    • PODCAST
    • Videos
  • LEGISLATION
    • Legislative Platform
    • Key Issues
    • Key Accomplishments
    • Action Center
    • Resources >
      • FY22 NDAA Summary
    • LAW 2022 >
      • LAW 2021
      • vLAW 2020
  • Member Benefits
    • AFSA Insurance
    • USAA - Auto and Banking
    • Vietnam Veterans Commemoration
    • Homes for Heroes
    • Membership Information
    • Shop AFSA
    • Apply for Scholarships >
      • 2020 Scholarship Recipients
      • 2019 Scholarship Recipients
      • 2018 Scholarship Recipients
      • 2017 Scholarship Recipients
      • 2016 Scholarship Recipients
    • EdConnect >
      • EDCONNECT AFRC
      • EDCONNECT Guard Reserve
    • Preferred Learning Partners >
      • Columbia Southern Education Group
      • Waldorf University
    • JROTC and CAP Awards
    • Clear2Connect
    • Military Family Resources
    • Suicide Prevention
    • Disabled Vet Student Loan Help
    • Transition Support and Services >
      • eMentor Programs
      • National Labor Exchange
      • Veterans Job Support
      • Colorado Technical University
      • Oklahoma State University Entrepreneur Programs
    • Debt Destroyer Program
    • Financial Literacy
    • K9s for Warriors
  • Chapter Corner
    • Professional Development
    • AFSA Spirit Gear
    • Important Dates
    • Set It Forever AutoPay Membership
    • CAMPAIGNS >
      • Deployed
      • Family Matters
    • Communications & Marketing Materials
    • Chapter Education Resources
  • AFSA SUMMIT 23
    • USF Charity Golf 2023
    • CONVENTION 22
    • AFSAPEDS21 >
      • AFSAPEDS21 Schedule
    • AFSAPAC2020
    • AFSAPAC19
    • 2018 Professional Development Conference >
      • PAC18 Membership Contest
    • 2017 AFSA Convention >
      • 2017 PAC Award Winners
    • 2016 AFSA Convention >
      • 2016 PAC Award Winners
    • 2015 PAC Award Winners
  • Members LogIn