Dos And Don'ts Of Digging Yourself Out Of Debt | Texas Public Radio

Dos And Don'ts Of Digging Yourself Out Of Debt

Jan 29, 2019

Americans now have record-high credit card and student loan debt, amounting to a total of nearly $3 trillion in 2018. What should you do to eliminate debt responsibly and achieve financial freedom? 

According to a 2017 CNBC article, 157 million Americans (more than 62 percent of the country's adult population) have credit card debt and 44 million (17.5 percent) have student loan debt to pay off. Millennials carry an average debt of $36,000.

Addressing financial issues can be confusing and overwhelming, but it doesn't have to be a life sentence. Lifting the burden of debt is possible, but requires work and planning. 

How does debt factor in to your overall financial health? Can you manage debt and still save for the future? 

Should you approach separate kinds of debt differently? What common pitfalls can you look out for? 

What are some proven strategies for paying down debt and what are the most efficient ways to manage what you owe? How can you get started on the road to living debt free? 


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*This interview aired on Wednesday, January 30, 2019.