is often required for a balance transfer card, and lenders set limits on how much debt you can transfer.
However, Aliche warns that studies have shown people who pay off their credit card debt with a personal loan often wind up overspending on their card again. She recommends you cut up your cards to avoid falling into that pitfall.or affordable financial product, you may want to consider asking a family member or close friend for a loan. This option isn’t possible for everyone, but may be an alternative for you.
“These days, I feel like people have to really be open to side-hustles,” Aliche says. “Everyone’s not going to start a business, but ask yourself ‘Are there ways to monetize some of my skill sets? Are there things that I can do to bring income?” Additionally, if your company is doing well you can consider asking for a raise or jumping back into the job market to negotiate a higher salary somewhere else. Try to use judgement before making either move so you don't put your current job at risk.It’s easy to psych yourself out and get hung up on the amount of debt you have. But Aliche encourages you to remember that you’re not the only one in debt.
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