Day 8: Creating a Debt Repayment Plan
Activity: Explore the debt repayment methods: the snowball method (starting with the smallest debt) and the avalanche method (starting with the highest interest debt).
Task: Choose a repayment strategy and outline steps to start. Commit to a small amount you can put toward debt this month, even if it's only a few dollars.
Journal Tracker: Answer the following:
What debts will you prioritize, and why?
What will it mean for you to become debt-free?
Instructions: Reflect on how debt affects your financial freedom and self-worth. Write about any sacrifices you are willing to make to accelerate debt reduction.