Tag: Debt Relief
Black Friday is just another day of the year companies promote rampant consumerism – and encourage you to take on debt. Don’t buy into these for-profit schemes. Save your money and put it toward meaningful experiences or, if you’re like the average American, paying off your debt to secure your financial freedom.
Credit card debt is a widespread problem in the US: an estimated 29 million Americans have carried a credit card balance for more than two years, while 1 in 4 do not regularly pay off their balances each month. In total, Americans owe nearly $784 billion to credit card companies, while individual households owe an average of $17,000.
What does the journey from debt to financial freedom look like? While everyone’s situation is unique, there is still a core path you can follow toward independence. Here, we’re going to discuss the fundamental steps everyone should take to regain control of their finances.
While some households earn sufficient incomes to pay off their debts within a reasonable timeframe, others would face a lifetime of financial hardship if they chose to tackle their debt with traditional month-to-month payments.