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NerdWallet's Smart Money Podcast
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How to Get Out of Debt in the Style of NerdWallet
NerdWallet suggests taking the following steps to get out of debt. One, create a budget and identify areas where you can cut back on spending. Two, focus on paying off high interest debt, such as credit card balances. Three, consider debt consolidation,. if you have multiple high interest debts, consider consolidating them into one loan with a lower interest rate. Four, make more than the minimum payment each month to reduce the principal faster and pay off the debt quicker. Five, seek professional help. If you are struggling to get outof debt, consider seeking the help of a financial advisor or credit counselor.
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