Benefits of Reduced Debt

If you set a goal to reduce your debt in January, you are not alone. According to a study by

Nerdwallet, more than 40% of Citizens have this goal in sight. Strategically paying off debt

benefits your health and wellbeing tremendously, and can positively impact your bargaining

power. 

Benefits of reduced debt:

1)Reduce Stress

2)Improve your Credit Score

3)Easily pay an unexpected bill

4)Increase disposable Income

5)Boost your retirement Income

6)Model good financial habits to others - Children, Friends etc.

7) Engage in Philanthropic engagement

8)Improved health and well being


Create a Debt-Free Plan with these steps:

1) Honest Reflection

2) Create an accurate overview of your debt

3) Decide which debt to pay off first (List in order of importance or aging)

4) Automate your payments to make it easier and consistent

5) Avoid incurring more debt while paying another off