Getting Debt Free - Which comes first?

Well, it would be nice to have NO House payment, and be Debt Free from that. I would also Love to be Debt Free from a Car payment as well. We are trying, but I think it is going to take more than what I am doing now to get there. But there is no problem hoping, and trying to figure out how to get there somehow is there?

I totalyh agree Creation hub..I think being in debt is what is causing everyone a lot of stress and breaking up a lot of families as the pressure can be toomuch and causes all types of Social Ills..I am building up my own capital now so I have more controlover my decisions and finances instead of being controlled by all the Multinationals..I can choose to invest clean and green and make a difference tomy family's and other people's lives in a better way..

The mortgage is first, food,electricity and water. I always pay the essentials firt. I am presently working on paying off my credit cards, and I am going to do my best to do without using them in the future.

Since it is established that a human being needs a roof over his head and some food on the table before going to a "higher" level of feeling good and self confident, I gather paying your mortgage or rent would be the first priority, immediately follwed bij getting some food... Personally I think after that comes paying off yor debt towards friends and family... The your debts to other persons or institutions like a bank, a loan firm or whatever the different countries know as financing institutes... If there are children involved, school money would be high on the short list as well, I guess.... Personally I try to have as littles debts as possible, since I get a bit nervouw if I owe more than say 1500 dollar to the bank or the credit card company!!

I heard a report of sorts on this not too long ago. It was recommended that you start with 'smaller' bills and get those paid off before attempting to pay off a home mortgage - made since to me as often the interest rates on othe things like car loans or credit cards is much higher than a home mortgage. They also however suggested making at least one extra house payment each year - in doing this the mortgage will drop tremendously because the entire extra payment goes on the priciple lowering the amount that interest is being charged on.