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Nearly every American carries some kind of debt, whether they’re paying for a house, a college degree or a new laptop. And you’re not alone if you wonder just how much income should be allocated toward paying off credit cards, car loans, student loans and/or your mortgage each month?
Generally, a good overarching rule to follow is to pay as much as you can each month in excess of the minimum payment.
“This will not only help you pay off your debt sooner but can save you a significant amount of money in interest p…
Read the full article at: https://www.cnbc.com/select/how-much-money-to-put-towards-debt/