Debt is a major part of the typical American’s life. 无论是抵押贷款, 汽车贷款或信用卡, debt can be a useful tool to help pay for needs over time, or it can lead to a reckless lifestyle of overspending. Consumer debt in America now totals about $4.1 trillion, with the average household having more than $8,500 in credit card debt alone. Additionally, the average student loan debt in the United States totals more than $32,000. Because debt is a reality for so many families, it’s important to understand how to responsibly manage your obligations.
债务怎么会有用呢?
It’s important to remember that debt isn’t always bad:
- Allows you to pay for large purchases over time
- 帮助管理每月的现金流
- Payment activity can build your credit score
- 抵押贷款 debt is an avenue to build equity in a home
债务怎么会有害呢?
Debt can also lead you down a path that harms your financial life:
- Allows you to spend more than you have
- Temporarily feels like you’re getting something for nothing
- Can be costly due to interest and fees
- 从你未来的收入中借款
- Maxed out debt can negatively affect your credit score
克服债务
Why is it so hard to get out of debt? Simply put, making sacrifices now for later is difficult. Oftentimes, just when you’re getting on track with eliminating your debt, unexpected expenses arise. There’s no magic formula to make debt go away quickly. In fact, it can take a long time to make major progress. Plus, paying off debt is not as fun as accumulating it. It’s important to think about the long-term benefits.
These behaviors often lead to accumulating debt:
- 入不敷出
- Using credit cards for everyday purchases
- 用债务偿还债务
- 紧跟最新潮流
Making a plan is a critical first step to overcoming debt. It's important to gain a clear understanding of your finances overall. First, acknowledge the total debt that needs addressed. Then, track and reflect on your spending habits. 最后, create a budget for spending and debt repayment.
Our experts have assembled a fillable PDF that will assist you in creating a budget:
When creating the plan, remember that repaying your debts can be done strategically. We recommend either a “debt snowball” or a “debt avalanche.“两种方法的工作原理相似, and we recommend paying the minimum payment on all debts, except for the one you are focused on. The debt snowball strategy involves focusing on paying off your debt with the smallest balance. With a debt avalanche, your focus debt is the one with the highest interest rate. As you work through your plan, try your best to live solely on your income. Begin using your debit card, rather than credit cards and stop taking on new debt immediately. One of the best ways to avoid future debt is learning to say “no” to things that you don’t need.
管理债务
Applying diligence to managing your debt can help improve your finances and day-to-day life. From making your credit score increase to a major reduction in stress, there are many reasons to be responsible with paying your obligations. You’ll enjoy improved financial security for retirement, the ability to buy things you really want, and fewer bills to handle each month.
Avoiding debt in the future is an important part of debt management. To get started, be sure to understand the difference between wants and needs. You’ll also want to build an emergency savings fund with at least $1,000. When your credit card bills arrive, pay them in full each month. 最后, if you’re considering making a large purchase, take 48 hours to think about how it impacts your financial situation.
Our experts have gathered some of the best ways to stay responsible with your debt:
- Avoid overdraft charges by keeping close tabs on finances
- Limit applying for more credit cards
- 避免“先买后付”的交易
- Avoid cash advances or payday loans
- Be aware of continuous balance transfers that prolong debt
- Limit the use of your credit cards until you are debt-free
Debt can be difficult, but it won’t go away on its own. Taking control and responsibility of your finances will improve your overall quality of life. 有问题? Our experts are here to support you. Contact 元素 for support in all aspects of your financial journey.
Learn more about how to deal with debt from a previously live broadcast of 元素 Live. 点击这里观看研讨会.
来源:The Balance | Credit.com
This information is provided for informational purposes only. It does not constitute legal, tax or financial advice. Consult with your tax, legal or financial adviser before taking any action.
