The National Foundation Credit Counseling (NFCC) discussed ways to save money while paying down debt on Experian’s weekly #CreditChat. Are you wondering which to do: save money or pay off credit cards. BOTH! It is not an mutually exclusive decision. You have to save AND you have to elminate your credit cards. But how do you do it?
Here are the steps to follow:
- Save – even if you have to start small, like $10 or 1%
- Pay off Debt
- Automate saving plan and debt repayment plan.
Below are some tweets from #creditchat. Including one from yours truly: “When it comes to saving, just start. Build your saving muscle.” @MoneyWisdoms. Follow me on Twitter!
- NFCC Military Program
- Pledge to Save – AmericaSaves.org
- Debt Calculator: Pay or Save? – BankRate
Follow them on Twitter @Experian and join the weekly #CreditChat every Wednesday at 3:00 ET. Check out the website for the live Google Hangout with America Saves, NFCC, and Experian.