An analysis of Federal Reserve data projected that by the end of 2018, the total consumer debt in the US will reach $4 trillion.
Americans spend at least 10% of their monthly income repaying debts like credit cards, student loans and car loans, and they basically owe 26% of their total income. These numbers are alarming and studies show that a lack of financial literacy is whats causing Americans to amass such huge debt.
But the good thing about debt problem is, it can always be solved, and the New Year is the best time to kickstart your journey to being debt-free. Here are three smart ways to consolidate your debt and get rid of them for good:
Apply for a debt consolidation loan
One of the best options for consolidating debts is by …
Read the full article at: https://www.bmmagazine.co.uk/business/kick-off-2019-debt-free-three-smart-ways-to-do-it/