Paying Off Credit Card Debt? Don't Skip These 3 Steps

As a money coach, I see many people leaping into paying the debt aggressively, only to boomerang back into debt because they skipped three fundamental moves.I’ve taught thousands of students since starting my financial education company in 2020, and the vast majority could not answer this question: What is your net worth?

Before paying down credit card debt, it’s important to understand how this debt fits into your overall financial well-being as measured by your net worth. Your net worth is calculated by taking the monetary value of everything that you own and subtracting out the monetary value of everything that you owe, including credit card debt, car loans, mortgages, student loans and other forms of debt.

I teach all of my students to track all of their finances in one system, such as a Mint or Empower. These kinds of tools track most kinds of accounts securely and automatically, to reduce the busywork of updating manual spreadsheets.

Hello

Step 1. Get as much as you can. Step 2. Spend as much as you can. Step 3. Move internationally.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla, Netflix earnings due: Cheaper cars, cheaper content, more workout videos, as 'earnings recession' seems likelyTesla, Netflix earnings due: Cheaper cars, cheaper content, more workout videos, as ‘earnings recession’ seems likely 😂 more workout videos. If I had a dollar for every kid who thinks they’re a fitluencer.
Source: MarketWatch - 🏆 3. / 97 Read more »

Record Share Of Car Buyers Paying $1,000+ Monthly Due To Highest Interest Rates Since '08 | CarscoopsThe average new car monthly payment hit a record high of $730 in Q1 2023 versus $717 of Q4 2022 and $656 Q1 2022 car auto cars
Source: Carscoop - 🏆 306. / 63 Read more »