Debt Management Strategies - Financial advisors recommend paying credit card balances in full every month to avoid accumulating debt [1] - Paying balances upon receiving income, rather than waiting for the due date, ensures funds are allocated correctly [2] - Utilizing a 0% interest balance transfer card can help pay off large balances without accruing interest during the promotional period [2] - When using a 0% balance transfer card, divide the balance by the number of months in the promotional period to determine the monthly payment needed to pay off the debt before the interest rate increases [3] - Keeping outstanding balances low improves credit scores and potentially secures lower interest rates from lenders [4] Practical Advice - Disciplined adherence to these steps is crucial for successful debt reduction [4]
Here are 3 strategies to crush your debt
CNBC Televisionยท2025-10-10 17:45