Debt Disasters
Consumer debt is reaching new heights — it increased by 14% in March compared with last year — and as the Federal Reserve hikes interest rates once again (most recently to a range of 1.5% to 1.75% on its short term benchmark rate, the biggest hike in nearly 30 years), it's becoming more expensive to pay those debts off. All of that makes it high time to work on eliminating your debt, and there are a few things to keep in mind. Owing mountains of money can seem overwhelming, but having a solid plan makes the task more manageable, and knowing where to avoid a stumble will be crucial to staying motivated and seeing success. Here are some common mistakes to avoid.
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