Most people struggle with debt from time to time, but there are just 3 simple steps in conquering it forever:
- Stop acquiring new debt
This is self-explanatory – you need to stop using your credit card and cancel any unnecessary recurring payments
- Establish an emergency fund
Find out what an emergency fund is and how to start one
- Start the Debt Snowball
Use the Debt Snowball method to reduce your debt.
Have you ever overcome your debt?
This is part of the “Tip-A-Day” series of blog posts that showcase a new money-related tip each day of the week.
Image credit: rudis