Managing Consumer Debt

28 December 18

Consumer Debt

PaydayOk! meets with John and Stephanie Schrom, a recently married couple whose clashing financial lifestyles have forced them to compromise about debt. Debt doesn't have to be a permanent albatross dragging down your financial life.

Here are a few tips to help you manage and improve your finances.

  1. Make a realistic plan - one that isn't unnecessarily strict - and stick to it.
  2. You're not alone. Millions of people are in the same boat, and thousands of resources exist to help you.
  3. Think long-term. It may be easy to pay only the minimum from month to month, but you'll end up giving away thousands of dollars in interest.