The unemployment rate is down, spending is up and we seem to be in a better position economically. Having been through a number of economic up turns, I’ve learned that letting my guard down may be a mistake.
So, if you haven’t already started doing it, reduce your debt and take control. There are a lot of benefits that come with it.
Increase Your Disposable Income
Many of us live paycheck-to paycheck. Our income is most-likely already attached to paying off existing monthly bills and obligations. The less debt you are in, the more disposable income you will have to enjoy.
Improve Your Credit Score
Our financial system rewards our credit score with the debt we keep. Having open credit cards and and lines of credit are not a bad thing. Keeping lower balances is. By maintaining a low balance on your credit cards and lines of credit is critical to having a higher credit score.
- When you are ready buy a home or other large purchase, you will get preferred rates and status that may save you thousands of dollars over time.
Reduce Your Stress
Stress in our lives can often be connected to the amount of debt we are in. Making a commitment to pay down your debt will inevitably make a difference in your overall health of body and mind.
According to NerdWallet, more than 40% of Americans have the goal of reducing debt front and center in their lives these days. Having a plan to reduce your debt (maybe even eliminating it) not only benefits your financial situation, but can positively impact other areas of our lives.
There is a lot of common sense when it comes to reducing your debt. As a subscriber to the #1 Real Estate Consultancy, Buffini & Company, I’ve made a choice to provide a wealth of common sense paths to a better, more prosperous life. If you want more information on ways to Reduce Your Debt, send me an e-mail at dave@davesellslongbeach. Or give me a call at (562) 618-9770. I will gladly send you the latest informational piece on the benefits and ways to reduce your debt.
Dave Harbison has been a Real Estate Practitioner in Long Beach and surrounding communities for over 12 years. He regularly contributes to blogs, news outlets and other media, providing insight to home owners, buyers and sellers in the Long Beach, Seal Beach, Lakewood, Sunset Beach, Huntington Beach, Newport, Cypress and Cerritos. Dave Harbison Long Beach REALTOR® Main Street Realtors (562)618-9770 firstname.lastname@example.org DRE:#01475840 — Long Beach Realtor® / Real Estate Agent Long Beach Homes for Sale, Condos and Investment Properties