Mount Pleasant Magazine March/April 2021

77 www. ReadMPM. com | www. VOICE forRea l Es tate. com | www.MountPl easantBu i l der s . com Say Good bye to Debt A s we continue to put distance between ourselves and 2020, it remains destined to be a year not soon forgotten, despite how much we all wish we could. It saw schools and businesses shuttered, gatherings canceled and the introduction of the phrase “social distancing” into our daily vernacular. And it’s not over yet. Since March 15, 2020, over 65 million unemployment claims have been made nationally. A check from Uncle Sam provided a small amount of relief but could never replace a real paycheck. That reality has hit home for millions of Americans, causing them to rely on credit to keep their heads above water. Add those cases to the millions of Americans already in debt due to credit card bills or student and home loans, and 2021 will be a year of rebuilding unlike any other. As you’re sitting at home reading this, you may be thinking, “thanks for telling me something I already know! So wise guy…how do I fix this?” According to financial guru Dave Ramsey, being positive is the best place to start. Most of us have had a financial crisis, big or small, at some point in our lives. It is important to remember that “you can take care of yourself and your family. You can still make the best decisions possible with your money by budgeting through this situation. You will get through this,” in the words of Ramsey. First, concentrate on the basics. According to Ramsey, “Focus on covering your Four Walls first: food, utilities, shelter and transportation. You feed your family, keep the lights on, pay the rent or mortgage and put enough gas in the car to get to the very few places you need to go these days. Those are your budgeting priorities now.” Once you’ve taken care of the Four Walls, Ramsey recommends starting his Debt Snowball Method, a debt- reduction strategy where you pay off obligations in order of smallest to largest, gaining momentum as you knock out each balance. When the smallest debt is paid in full, you BY STEPHEN BOYER Advice from Experts