Whether you want to get out of debt or want to avoid it, what matters is you’re inspired to be better. But how do you start? Well, I’m here to help you with that! Today I bring you 10 tips that will help you get out of debt and keep it that way. If you make life habits out of these tips, you will never have to deal with the headache and stress of debt ever again.
Check Your Statements Regularly
If you want to get out of debt, you need to start paying attention to detail. You won’t notice things such as a recurring fee on your credit card bill for that gym you don’t go to anymore if you don’t check your statement regularly. If you monitor your personal finances like a hawk, you won’t ignore View full post…
Do You Know How to Get Rid of Debt? – 10 Helpful Tips
Do you know anyone who is living a debt free life? Do you want to live without the stress of meeting loan obligations every month? Read on and see how to get rid of debt once and for all.
Debt-free individuals usually share the following ten similar characteristics that enables them to live below their means. There’s nothing here that is so highly technical that prevents anyone else from copying.
Start paying attention to details – As an example, if you don’t review your monthly credit card statement closely, there may be charges on there that shouldn’t be. Debt free individuals monitor their personal finances very carefully.
Are your debts causing stress and you want a normal life? Do you struggle every month just trying to make the minimum payments on your credit cards? Do you really want to achieve debt free living?
It’s so easy in today’s life style to get caught up in the “charge it” philosophy. You see your friends and acquaintances driving that new car or buying a very large house with new furniture. You think to yourself, if they can do it, so can I. What you don’t see is your friend’s , large mortgage, car loan, and several maxed out credit cards used to furnish that new house.
The average American is used to living with debt. Credit cards are used to buy things we don’t need, car loans for seven years because we like a luxury vehicle. Larger homes than View full post…
Recent publicity comparing the increase in student loan debt to credit card and auto loan debt indicates how serious the problem really is. In 2017, outstanding student loan debt passed the $1.31 trillion dollar figure. That and the following facts and statistics will tell anyone that we have a student loan crisis.
The figures are bad enough, but how does all of that debt affect the students who must borrow to get a college education?
Over the past twenty years, approximately fifty percent of students who graduated with a bachelor’s degree, saw a tremendous increase in student loans. As an example, in 1994 the average student loan debt was slightly more than $10,000.00.
In 2017, the average more than tripled to $37,172.00. Does the word View full post…
With student loans at an all-time high and record delinquencies, millennials want to know how to pay off debt fast. Increasing debt is becoming a major concern and more than half of a survey group said they felt overwhelmed because of high debt.
The millennial group surveyed had twice as many complaining of high debt as the 49 to 59 age group and the obvious question is why? What do you think the reason is? Please share your comments below.
Since the last financial crisis, many lower income American citizens have seen their mortgage debt levels rising. This has hit those nearing or in retirement the hardest, and is one of the primary obstacles that would otherwise have provided adequate retirement funding. Actually, debt has increased substantially since the 1990’s for many individuals because wages have struggled to keep up.
As an example, in 2007, those lower income individuals carried mortgage debt for their households that was approximately twenty percent (20%) of their total income. Six years later, in 2013, that percentage had jumped to fifty percent (50%) of total income.
Having debt is never easy or fun. In your 20’s, studies show this age group seem to be able to manage their debt without too much stress and struggle. This all seems to change once people hit their mid-30’s.
There is almost a tipping point that defines the future in the years between 35-44. This age group appears to have the highest level of debt than any other age group according to the Census Bureau. This age carries 25% more debt than the next highest debt age grouping.
Coming in at more than $100,000 in debt, it is easy to see why the 30 something year olds feel like they are at a tipping point.
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