How to deal with your debt
Try to transfer your debt onto a zero-interest credit card (also known as a balance-transfer card). It will give you a limited time window where your debt won't accrue interest and allow you to get rid of your debt faster. But ensure you can pay it off within that window, otherwise the interest rate will skyrocket again.
- If you're confident in your ability to pay your debt off, you can start saving at the same time.
- If you are still paying a high-interest rate on your current credit card debt, then wait until your debt is paid off.
Once the debt is gone, put that same amount of money toward your emergency fund instead.
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"Many people are in the dark when it comes to money, and I'm going to turn on the lights. " ~ Suze Orman
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- Learn how to save money to cover unplanned expenses
- After establishing an emergency fund and becoming debt-free, go all-in on building wealth!
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