Eliminating debt, or just getting it under control, can transform your finances. Less debt means greater financial strength, so you can start saving toward an emergency fund or other financial goals.
If debt management is one of your problem areas, and you’re in the U.S., then you’re not alone. On average, U.S. households carry revolving credit card balances of $9,333.* These are balances that carry from one month to the next. Up north, more than half of Canadians (58%) pay their credit card balance, if full each month, avoiding credit card debt and interest payments.**
The good news? There’s a way to clear up the financial blemishes that debt creates and have a better financial outlook. For simple tips and strategies,
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* Average Credit Card Debt in America: March 2020, Value Penguin, March 2020
** Focus: Household Borrowing in Canada, Canadian Bankers Association, December 11, 2019