We know you're in a terrible hurry to get rid of debt. But certain debt reducing strategies may be more detrimental than beneficial.
Don't choose the quick and easy way out because it rarely works. Here are some debt reducing strategies that are dangerous to your financial well-being.
1. Borrowing money from your retirement account
Paying off your current debt may be on top of your to-do... ››› more
Poor money management skills and overspending can lead to serious debt problems. It's quite easy to get into debt, getting out of debt is much more difficult, however.
With determination and hard work, you can reduce your debt without resorting to costly debt advisors. Here are a few tips to help you cut your debt in half.
Evaluate your debts
Gather up all your debt statements and finan... ››› more
What is the secret to getting out of debt? If you're looking for some magic way to eliminate debt, you won't find it. The harsh truth is that it's fairly easy to get into debt, but difficult to get out of it.
The reason why you got into debt is irrelevant. People get into consumer debt for various reasons: they want to keep up with their higher-earning peers, they want to buy things they know ... ››› more
Are you still struggling to get rid of debt? Is your financial future in jeopardy? Then it's time for a change.
Unless you choose to change your bad spending habits and become more disciplined when it comes to your finances, you'll never be able to get out debt.
The problem with debt can be a never-ending one if you don't take the necessary measures to stop it.
Here are some effortless wa... ››› more
Responsible financial planning includes proper debt management. You can't claim to be financially independent if you're still struggling with debt and even acquiring more debt than you already have.
Debt management doesn't have to be difficult, as long as you act responsibly and practice self-control and discipline.
In order to take control of your debt, take into consideration the following ... ››› more
Credit card debt can seriously affect your finances, so you owe it to yourself to eliminate it as quickly as possible.
You may have a perfectly valid reason for getting into debt in the first place, but that doesn't matter. Right now, you need to focus on paying off your debt before acquiring more interest and becoming overwhelmed.
But how do you do it? How do you tackle credit card debt eff... ››› more
Are you still struggling to pay off your credit card debt?
Are you implementing sound financial planning strategies or are you just going with the flow? Because the way you handle your credit card debt could change your financial future.
Instead of stressing out and getting into even more debt, calm yourself down and use these simple strategies to get rid of credit card debt for good.
T... ››› more
Being buried in debt is not fun at all. Freeing yourself from debt can be the most exhilarating experience, but it does come with certain sacrifices.
If you find yourself in uncontrollable debt, then you are doing something wrong. Most probably, you are being neglectful of your finances, not taking proper measures to get out of debt as quickly as possible.
Don't expect to bounce back from de... ››› more
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