You might have heard of Oprah’s take on debt management, the debt diet strategy. In it, she describes a systematic way to go down few sizes on your metaphorical debt waist. Oprah gets down to the bare essentials of your financial problems with a series of tips and tricks that will effectively target your financial choices. Her goal is not to overwhelm you, but to assist you in a way that changes your financial situation step-by-step.

Oprah’s Debt Diet in a Nutshell

Oprah’s debt diet lists a variety of ways people can manage their debt, but the best place to start is by getting a firm grasp on all of your financial account and where you stand when it comes to what you owe. Once you have a good idea about your total debt, you can begin to play with some of the strategies Oprah discusses.

The most important part of the debt diet is to prioritize bills and track how much you’re spending on certain aspects of your life. Some people take the “Snowball” method of debt payment. This is where people will pay off their smallest debt first, then work their way up.

Oprah gives little tidbits here and there, such as paying more than the minimal amount and talking with your credit card company about lowering interest rates.

Her next step is to start creating monthly spending plans for yourself. Make your primary goal to save money and pay your bills. Everything else needs to become an afterthought. On her website, Oprah even includes a debt calculator that will tell you exactly how much of your paycheck you should allocate to your bills.

Once you have become debt free, Oprah also expands on how you can invest your money wisely and start building a respectable stick portfolio for retirement, but that’s a little ways away if you’re still trying to pay off your debts.

For now, just keep your immediate goal of eliminating your debt in mind, then you can start building for your bright future with the rest of Oprah’s debt diet advice.


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