By Chandler Sullivan
April 28, 2022 | 2 Min. Read
Everyone will come across debt at some point in their lives. Whether it is student loans, credit cards, car loans, mortgage loans, etc… the list of debt is endless at any given moment.
When you have a lot of debt it restricts your disposable income and ability to save or spend. Having debt can be very overwhelming… especially if you have a low credit score. Paying down your debt can help your financial future by improving your credit and decreasing your stress.
It is important to consider a savings plan or budget when it comes to starting to pay down debt. What can you afford to pay off every month while not sacrificing your necessities? The easiest way to set up this plan is to pay down the smallest balance and highest interest rates first.