I’d appreciate your thoughts* on a matter.
Imagine that in your given circumstances you have $12,415.82 of debt from a home equity line of credit.
And now imagine that your goal is to pay it off in one year…say by the end of 2016.
I’m curious how you’d tackle this debt. What is your mindset? Would you dip into savings? Stop contributing to retirement accounts? Are there certain purchases you’d sacrifice for the year in order to get rid of this debt? Generate extra income on the side?
There are no right or wrong answers here; no golden nuggets. Just hundreds of different ways this debt could get paid off in one year. I’d love to hear what you’d do* in this situation. Leave your thoughts in the comments section below.
*Don’t worry – I’m not taking your thoughts and opinions as financial advice 🙂