Getting out of debt actually isn’t any harder than falling into debt, but it does take more time.
In this video, CreditCards.com‘s Erica Sandberg explains the steps you can take to be rid of your debts in just five key money moves.
To summarize:
- Stop using those credit cards, don’t add to your debt
- Sell some of the stuff you bought with those credit cards
- Cut expenses to the bare minimum
- Pick up extra cash with side jobs
- Create a monthly payment plan and stick to it
The good news is that you can start anywhere on this list and you’ll be in better shape and on the road to becoming debt-free.