A Straight Talk on Debt gives you the real deal on debt, straight from our employees and industry insiders. Learn more about our debt relief plans and important industry updates.
These experts have been in your shoes and are sharing their stories and how their personal experiences with debt have shaped their relationship with money and led them to what they are doing today, helping others.
Today we are talking with Eric Rosenberg owner of Narrow Bridge Finance.
I have had debt several times in my life, and I have worked hard to keep it under control and pay it off early. My first experience with debt happened shortly after college. My hand-me-down car broke down on the way to work, and I needed to replace it right away. I took a car loan for about $12,000 and made double payments, or more, each month, and was able to pay it off in about two years.
My second major loan came with graduate school. My $67,000 in tuition for an MBA led to over $40,000 in debt. Like with my car loan, I focused on that debt like a laser. Two years and six days after graduation, I was student debt free.
Now, all that remains is my mortgage. The balance is under $100,000, and I hope to have it paid off in far less time than the 30 years. From early payments, I have already trimmed off one year.
Getting out of debt does not happen on its own. It takes focus and dedication. I trimmed spending everywhere I could and made debt payments each payday.
I found that making debt payments each payday was a huge help. I matched my payments to my income, rather than waiting for a big hit on the first of each month.
Narrow Bridge Finance is a blog about saving time, money, and headache when dealing with your money. You work hard for it, and it should work for you once you have it.
I write about automation, investing, and getting the most out of deals and offers to make your money go as far as it can. Money should give you value, not be a stressor.
Does your blog give you the opportunity to give back to others dealing with debt?
Certainly. I shared my story of debt payment and everything I learned along the way. As I made progress on my loans, I was able to help others. Readers have saved a lot of money and hassle on interest and loan payments from advice on Narrow Bridge Finance.
My biggest tip is to make everything simple. Get rid of extra accounts, automate your debt payments and retirement investments, and spend less time on your money. If you set it up to work on its own, you can spend your time doing things you enjoy rather than balancing your checkbook.
At CareOne we believe personal experiences are what make an expert. Please visit Eric at his blog, Narrow Bridge Finance to help you organize and simplify your financial life to save time, money, and headaches.