Mindy Neira, a financial planner in Westwood, New Jersey, recommended that if you were having trouble managing card debt, take stock of your spending. “The first step is to look — without judgment — at where your money is going,” she said, including housing, food, entertainment...
Lewis J. Altfest, acertified financial plannerin New York whose clients tend to be professionals with large incomes, says credit card debt often represents a risk. It can also be an early warning sign of trouble ahead. "Too frequently, [financial planners] see abusive use of credit leading t...
Once you stop adding to your balance, one of the best ways to pay off credit card debt is fairly simple: You’ll reduce your debt quicker if you pay more than the monthly minimum amount required by your credit card company. That’s because the minimum payment equals only a small fraction...
Credit card debt can be scary and confusing to deal with on your own. We gathered some myths and facts about credit card debt to help you tackle your credit payments.
Credit card debt is an unfortunate reality for many today. Americans owe over $1 trillion in credit card debt, according to recent data from the Federal Reserve Bank of New York. And with steep interest rates and a high cost of living, the end of the road with debt can seem fa...
I still have to pay off the 5 card to pay for and I will come back and rethink what to do with my others cards and the ones I decided to keep. Because I still want to get my debt down, but to a manageable place. I am going to face the face, I will have times that I slip...
Patricia Stallworth, a CFP® and a senior financial planner at a financial planning firm, says that in addition to your credit history, factors such as your employment status could play a role in credit card approval. When analyzing a debit card vs. credit card, consider that a debit card...
card debt in 2022, the largest amount of debt ever added in a single year, according to a recentstudyfrom personal finance website WalletHub. Nearly half of that total — almost $86 billion — was added in the fourth quarter, marking the biggest ever quarterly increase in credit card debt...
If you're deep into credit card debt already, you can look at debt relief options like debt consolidation, debt forgiveness or a debt management program, among other options. You can also talk to a financial planner or credit counselor who can help you set a budget and explore your options...
control spending with your debit card, you can only spend what you have in the bank. using a debit card is a good idea if you're trying to build better buying and spending habits or to avoid racking up debt, says money-saving expert and former u.s. news contributor andrea woroch. ...