Paying down debt – or as I call it, plugging the drains in your financial bathtub – is a HUGE part of reaching financial freedom.
The average American family owes nearly $16,000 in credit card debt, with interest rates being in the mid to high teens. Can you imagine how those families’ financial situation would change if they didn’t have to pay several hundred dollars per month in credit card payments?
Check out this article that compares two different methods for paying down credit card debt. I found it pretty interesting.
At the end of the day, i don’t care how you get out of debt – just get out of it!