Swimming in holiday credit card debt
Reducing debt is going to be harder than trying to drop a few unwanted pounds.
After all, even if you, well, go cold turkey on shopping after the holidays, your debt will continue to grow, thanks to compounding interest.
Unfortunately, there is no Atkins Diet for debt that will allow you to have your steak and eat it, too. At the very least, make sure you don't wade any deeper into the red.
So now that the shopping is done, you may ask yourself, "Which debt should you pay off first?
You should prioritize your debt. Start with tackling revolving lines of credit, such as those monsterous credit card balances.
Common sense says to clear the highest-rate card first. After all, if you pay off $1,000 on a card charging 21 percent interest, it's the equivalent of earning 21 percent on that money.
I worked as a commercial debt collector during my last few years of college, and trust me, the one person you don't want to ring in the New Year with is a pushy bill collector.
Their job is to make money too, and in most cases, they are getting a percentage of what you pay.
So don't get behind on your payments. It only makes things worse.
Make a budget and set financial goals - and stick with them. You'll be glad you did.
Subscribe Today and Save!!!
St. Charles Herald-Guide is an award-winning newspaper that covers all aspects of St. Charles Parish - from schools and parish government news to social events, features on our local residents and sports.
Order your subscription today!
Retired U.S. Army Lt. General Russel Honoré is front and center in the brewing...
Luling’s Rathborne Park remains closed until Saturday, Sept. 13 while St. Charles...
Destrehan resident Bruce Bourgeois Jr., who is accused of stabbing his live-in...
After only one season, Boutte-resident Kip Benoit’s reality TV series about hunting...
St. Charles Parish Public Schools is facing continued struggles in getting...
In only his second game as a starter, Destrehan sophomore quarterback Marquise...
Southwest Funding, LP Branch #920 (NMLS 32139) is your local mortgage company caring about your personal mortgage needs for all purchasing, refinancing, and reverse mortgages. All credit and employment considered.
Strange modular units stored at Pier 90 are part of $850 million plant - 1444 views
Motorists traveling along Highway 90 last week noticed a strange site in the parking lot of Pier 90 where a number of very large metal modular units were being stored.