Apply All Your Bonuses to Principal When You Have High-Interest Debt

Tough talk time: bonuses feel really great when your job doles them out.

They may even be a nice reprieve from otherwise stressful budget constraints.

But instead of giving in to temptation, I paid down debt.

Giving up your bonuses to paying down debt is probably one of the biggest financial drags in adulthood.

It’s also one of the best ways to save yourself money in the long-run.

Particularly if you’re carrying a high balance.

The 5-Step Plan I Used to Get Out of Debt| Money Ning

Photo byFrederic Bisson.