Debt is a way of life for many.
Long-term debt can in fact make you feel constantly buried in money woes. You have the ability to change that reality though. People often feel guilty about their debt and many times bury their heads in shame other than facing the reality. This is exactly what credit card/loan companies want . They want you to hide the statements every month and pity yourself with minimum payments…don’t fall for it. Once you know exactly how much you owe, you are ready to strategically attack your debt. To do this, you need to come up with a plan of action. There are a few different tactics you can use to tackle your debt.
You need to prioritize which of your debts you are going to pay off first — whether it be your credit card, student loans, or car loan. To decide which one to tackle first, you will want to consider the interest rates, size of the loans or credit cards, and loan terms e.g. specific pay back date