With total outstanding consumer debt at $3.34 trillion, excluding mortgages, according to the Federal Reserve, it’s clear borrowers aren’t taking debt seriously enough. My method for upping the urgency: treat debt the same way you would if your house was on fire extinguish it as soon as possible.
Debt costs you money every day. Interest charges add up and financial goals like building emergency savings, retirement investing, and more suffer as a result. I’m not saying you need to panic, but there should be a strong sense of urgency when it comes to paying off debt. You have to do more than coast along, paying the minimum.
One powerful repayment strat…
Read the full article at: http://www.cnbc.com/2016/01/14/how-to-get-student-loan-debt-relief-commentary.html