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I’m a Financial Advisor: 7 Pieces of Advice I Give My Clients With Debt

Being in debt can feel overwhelming, as you don’t want to hurt your finances by facing growing interest charges and possible damage to your credit score. However, managing debt doesn’t have to be scary or confusing. There are several straightforward ways to tackle debt that can help you get on a better financial footing. Check Out: 8 Steps To Take Now if You Owe Significant Interest on Student Loans Learn More: 9 Things You Must Do To Grow Your Wealth in 2024 GOBankingRates spoke to Jung Seh, CFP, financial advisor at Bogart Wealth, to discover what advice she gives to…

By Jake Safane
The photo shows a close-up shot of a hand holding a credit card, with the card being bent slightly to symbolize the idea of stopping its use. The background is a simple, neutral-colored desk, providing a minimalist setting for the main focus of the image. The camera lens used is a wide angle, capturing all the details of the credit card and the hand holding it.

Credit Card Balances Are Growing Almost Everywhere — Especially in These 23 Cities

Credit card usage is steadily on the rise across America, with Experian recently noting that the average American’s credit card balance has reached approximately $6,700 in the second quarter of 2024. Read Next: I’m a Bank Teller — 4 Reasons You Should Withdraw Your Savings Right Now Learn More: 9 Things You Must Do To Grow Your Wealth in 2024 While $6,700 is certainly nothing to sneeze at, Experian also noted there are at least 23 American cities in which the average credit card balance is literally double — that is, at least $1,340 — or more than the national…

By T. Woods
Life's a beach with you.

$10K Or More in Debt? See If You Could Become Debt-Free (For Less Than You Owe)

$10K Or More in Debt? See If You Could Become Debt-Free (For Less Than You Owe) Life’s a beach with you By GOBankingRates Staff It’s so easy for debt to slide out of control — even for the most responsible people. Maybe something unexpected happens, like a divorce, an expensive car repair or you lose your job.  The next thing you know, you’re looking at $10,000 or more in debt. And thanks to those crushing interest rates, you might struggle to even make the minimum payments, let alone get ahead. But if you have $10,000 or more in debt, a…

By Nick Friedman
Concerned young married couple studying bank letters informing about debt stock photo

The Impact of High-Interest Debt on Financial Health

Are you considering taking out a new high-interest loan or opening a credit card? Do you already have high-interest debt? In either case, you may be wondering how this debt can impact your long-term financial health.  Though it can be relatively easy to rack up a large amount of debt at a high interest rate, it may not be the best decision for your long-term financial picture. In fact, the cost in both time and money of this type of debt can have a devastating impact on your financial health. Read Next: I’m a Retired Boomer: Here Are 3 Debts…

By Joshua Rodriguez

Must-Knows About Debt

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This is The Single Most Overlooked Tool for Becoming Debt-Free

By Vance Cariaga
Depressed Asian young girl feel worry about financial problem in house. Stressed desperate young woman looking frustrated to paperwork and bills think of money debt, budget loss, bankruptcy at home. stock photo

8 Practical Steps To Pay Off $1K in Credit Card Debt, According to Financial Author Anthony O’Neal

By Martin Dasko
A senior couple looks worried as they read financial statements.

5 Myths About Debt That Scare Boomers Away From Retiring on Time

By Andrew Lisa

Tip 01

Overwhelmed? Confused? Credit card debt relief can negotiate your debt to a reduced amount. You pay a fraction of what you owe in less time.

Find the Best Option for You

Tip 02

Budgets are key to cutting expenses and paying down debt. Start a budget and consider these apps and spending tips.

Read Full Blog Post

Tip 05

Karina B. was able to resolve her debt for less than what she owed — and in less time than with minimum payments.

See How She Did It

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This calculator is for demonstration/educational purposes and is not a guarantee of the savings or timeframe to complete a debt resolution program. The estimates provided do not take into account risks of enrolling in such program, including impact on credit, potential for collection activity such as legal demands or lawsuits, or potential increases in debt owed due to interest and penalties. The calculations are based entirely on consumers who have completed National Debt Relief's debt resolution program in approximately 24-48 months and realized total savings of 23.1%, including program fees. Fees may vary by state and some creditors are more willing to settle than others. Not all clients complete the program for various reasons, including their ability to save sufficient funds. The "New Estimated Payment" is the amount of money estimated as necessary to be set aside each month and used towards settlements with creditors and program fees. The longer the estimated program, the lower the monthly payment; The shorter the program length, the higher the estimated necessary monthly payment. Calculations are based on the total savings of 23.1%. New Monthly Payment: ((1-23.1%)*(Estimated Balance Owed))/Desired Program Length. Savings Off Principal: Estimated Balance Owed - ((1-23.1%)*Estimated Balance Owed). Total Estimated Savings: 23.1%.

Debt Tips & Tricks

Frustrated couple checking bills at home using laptop.

5 Ways To Build Your Net Worth While Overcoming Debt

By Crystal Mayer
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Gen Z and Financial Anxiety: Why This Generation Is Taking Debt Avoidance Seriously

By Martin Dasko
A couple goes over their finances while sitting in front of their laptop.

Paying Off Debt as a Couple: 6 Tips for a 2-Paycheck Household

By Yaël Bizouati-Kennedy

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