 TITLE: Best Ways for Millennials to Pay Off Debt CONTENT: Understand Your Cash Flow\n-------------------------\nThe word \"budget\" can be depressing, so think of it as \"cash flow\" because that's really what it's all about: the amount of money you have coming in and going out.\nList all of your monthly expenses such as rent, utilities, phone, gas, groceries and the like, tally them up, then subtract the total from your monthly net income. Whatever you have left over is what you should commit to your debt. If that number is insufficient, consider ways to hike it up:\n*   **Reduce expenses.** What can you live without or cut back? It might be possible to bundle your cable and internet for significant savings, eliminate a daily coffee purchase, or cancel a gym membership and do at-home workouts instead. It's up to you to identify areas in your cash flow that you can change so you will be in a better position to deal with your debt.\n*   **Increase income.** If you're already living close to the bone, focus on bringing more money into your life. Drive for a ride-sharing company on the weekends, tutor neighborhood kids in Spanish, take the early morning shift at a cafe. Stretch yourself.\nHave a payment goal in mind. Maybe you have $500 that can go toward your debt now, but you want to double it. Great. Figure out how you will add another $500 to your payoff plan. If you can reduce expenses and increase income simultaneously, you'll get ahead faster. END