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Once you achieve the American Dream, you’ve made it, right? Society says you must have 2.5 kids and a home with a white picket fence to achieve this dream. If you’re in debt, this ideal American life may seem impossible to achieve, which can be discouraging. Buying a house is one of the more difficult achievements, especially if you have massive debt. But that doesn’t mean it’s completely out of reach. It’s still possible to buy a house if you’re already in debt.
Even if you currently have too much debt to get a mortgage approved, these tips will get you closer to a home of your own:

When you are young and working, retirement savings may be put on the back burner out of necessity in order to pay off more immediate bills and debt. If so, you are not alone. A shocking 36% of Americans have yet to begin saving for retirement. In fact, 41% say they don’t even have $500 socked away for emergencies. But without retirement savings or a retirement plan you will not be able to maintain your standard of living when you retire. Although retirement may seem far away and it may seem very difficult to save, saving money now has major benefits.

Every store you go into in October is filled with Halloween themed décor, food, and candy for sale. Putting your mortgage, rent, and other monthly payments before Halloween festivities is not always an easy task. Especially when you see everyone all over social media buying pumpkins and attending expensive Halloween attractions.  

Studies show that Americans are expected to spend $9 billion on Halloween candy, costumes, and decorations alone. This is a very large amount since American household debt has reached over $13 trillion this year. The average consumer is found to spend $169.81 each on Halloween festivities, which can be out of reach while paying off debt.

If you’re paying down your debt, then you know it is a challenging task. It may become tempting to look for ways to cut corners, however these options may cost you more time and money. Mistakes during debt payoff occur often and can sabotage the efforts you’ve made to improve your financial life.