Financial freedom might seem out of reach while staring up at a mountain of debt, but no one appears at the top of Mt. Everest. You get there one step at a time.
“Right now, many Americans are a medical emergency or a natural disaster away from bankruptcy,” says Debt.com chairman Howard Dvorkin, CPA. “Their finances are so precarious, any income disruption or debt addition would push them over a cliff.”
Believe it or not, a simple phone call could reduce your interest rates. Take note of your credit score, last late payment, and current interest rates compare to the national average.
Nothing can eat up a hard-earned check like utility bills and rent. If you’re in the position to do so, find someone you can split those responsibilities with.
While trying to pay off your debt, you should avoid some of the luxuries you’ve gotten used to. You could save a lot of money by pausing your Netflix subscription or skipping your weekend trips to the bar.