Debt. The one financial term you never want to be associated with. We spend our lives trying to pay it down, yet it always seems to cause an incredible amount of stress.
According to Mark Huffman’s research, a reporter with consumer affairs for over a decade, there is one main cause of financial stress;
Nearly a quarter of the 7,000 consumers in the survey said debt was their biggest financial worry, followed by nearly 20% who said just paying the monthly bills stressed them out. Healthcare, taxes, and housing round out the top five sources of financial stress.
In his article, Huffman compiles “four strategies suggested by financial experts” to help you dig yourself out of the whole.
First, conduct an analysis of your credit card debt, noting what you purchased with the debt, the interest rate you are paying, and setting a realistic target for paying it off.
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