Get over your debts in 2024 with these two methods

More often than not, getting out of debt can sometimes be a grueling and stressful experience.

In Thursday’s episode of “Unang Hirit,” financial coach and content creator Yani Moya presented two simple methods to get over your debts in 2024 in a new segment called “Money Fest.”

The first one is called the snowball method.

“Ililista natin kung ano ‘yung mga utang natin. Konti konti, babayaran natin,” Yani said. “Ililista natin from the smallest amount all the way to the biggest.”

“Ngayon, kailangan mong i-settle ‘yung mga minimum dues per utang, pero at the same time, uunahin mo ‘yung maliit,” she added.

The second method is to increase income.

“Kung pwede tayo magdagdag ng oras sa pagtatrabaho, ng side hustles, ng small business,” Yani said.

“Magdagdag ka nang pagkakakitaan para mabayaran ang utang,” she added.

Yani also advised to pay your debts on time to lessen additional expenses or interest.

Here’s to a debt-free 2024, Kapuso! —Hermes Tunac/JCB, GMA Integrated News