How to Save Money to Pay Off Debt
Paying off debt can be stressful and overwhelming, but these tips can help you to create a plan to become debt-free.
Managing finances is a challenge for everyone, but help is out there if you know where to look. AAA’s “Well Worth It Financial Know-How” webcast series offers valuable tips and insight for individuals and couples in every stage of life, from young adults on their own for the first time to retirees looking to enjoy their golden years. The purpose of the series is to provide information and education that’s easy to understand from an organization built on trust: AAA.
The “Debt Management Strategies” webcast from this series addresses different types of debt and the best approaches to paying it off. Among the topics hosts Trina Bowden and Chris White cover in the webcast are:
- Financial Literacy
- Carefully consider your borrowing options
- Benefits of paying down debt
- Understanding your credit score
- Improving your credit score
- Debt repayment options
- Create a Budget to Pay Down Debt (includes downloadable sample budget worksheet)
- 5 Benefits for Paying Down Debt
- Increase residual income
- Create emergency fund
- Be less stressed (financially)
- Increased financial confidence
- Sense of independence
- Methods for Paying Down Debt
- Debt snowball
- Highest interest first
- Interest Rates, Fees & Minimum Payments
- Tips for Saving
- Understanding Your Credit Score
- Improving Your Credit Score
Take the First Step Towards Debt Relief
Paying off debt can be stressful and overwhelming. But it’s important to take the first step and make a plan. The valuable tips presented in the “Debt Management Strategies” webcast can help you start eliminating your debt and set you on a path of becoming debt-free.