Paying off debt can feel like an uphill battle, especially if you’re trying to balance your debt repayment while keeping up with other daily living expenses like rent, groceries, and a car payment.
The quicker you can get out of debt, the less stress youll have, and the easier it will be to focus on other financial goals like saving for retirement or building an emergency savings account.
Below, Ill explain how to assess and prioritize your debt. Then, Ill share some of the best strategies to help you manage your debt and pay it off quicker so you can finally experience the freedom that will help make it easier to reach your financial goals.
Assessing and prioritizing your debt
From 2022 to 2023, Canadian household debt rose by 4.2 per…
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