Your biggest wealth building tool is your income. If your debt payments leave you with nothing left over at the end of the month, it’s time to get serious about paying off your debt.
Start with a financial inventory of your current assets (savings and retirement accounts, business accounts, home equity) and liabilities (credit cards, student loans, mortgage payments, car payments).
Credit is an arbitrary idea that affects us all and has a huge impact on our overall financial life. According to the US Debt Clock, the average personal debt per citizen in the US is $56,322. Whether you have good credit or are struggling to take control of your credit, here are some tips to help you navigate this difficult concept.
Starting off the New Year on a good foot is always preferable but sometimes it takes a little planning and preparation to get you on track, especially when it comes to debt. Facing debt issues can be intimidating but pretending it isn't there makes matters much worse. There is no better time than the present to begin working on your finances and becoming debt free.
