PeopleImages/Getty Images: Illustration by Issiah Davis/Bankrate
High inflation, rising interest rates and a possible recession have made it tough for Americans to pay down debt and save money. Over one third of U.S. adults have more credit card debt than savings, according to a Bankrate survey. However, Americans are making paying down debt a priority for 2023, with 19 percent saying thats their top financial goal for this year.
Having little-to-no debt often leads to a less stressful life and better mental health among other benefits. Although the road to living debt free can be tough in a country where credit is king, there are several strategies that can help you get there.
Key debt free statistics
- As of the first quarter of…
Read the full article at: https://www.bankrate.com/loans/personal-loans/living-debt-free/