NRM Survey on getting out of debt

[HKPassey]

It's finally live!

NRM is working with University of Colorado to sponsor and conduct a survey on what strategies have been successful for people who have gotten out of debt. Oddly enough, no one has ever actually studied this before! The intent is to use the information gathered to help develop educational tools to help others succeed as well, and cut through some of the myth and hype. Please check it out if you might have a story to contribute, or if you would just like to keep up on the project's progress, which will be posted to the survey's page on the FI website from time to time:

http://financialintegrity.org/index.php?title=Effectiveness_of_different_methods _of_debt_repayment

Thanks!
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[Yossarian]

Here's the strategy that I used:

Step 1: spend less than you earn.
Step 2: pay back the money you owe.

Good luck with your big study.

[RosieTR]

Here's the strategy that I used:

Step 1: spend less than you earn.
Step 2: pay back the money you owe.

Good luck with your big study.

Well, did you live in a tent, eating beans and rice while you did this? What proportion of your income did you use to pay down debt, why did you choose that amount, did you have to make adjustments along the way, what triggered your initial decision to do get out of debt?
Boiled down to its simplest, of course it's a matter of spending less than you earn and paying the debt but there are a LOT of details within that.