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Nobody likes being in debt.
Taking aggressive measures to pay down your debt faster can be rewarding and lead to betterfinancial health.
A U.S. News survey found that only 2 in 5 Americans have an emergency fund.
If you fall into this category, you may want to reconsider putting so much money toward your debt.
Imagine that youre aggressively paying down your debt rather than saving, and your car breaks down.
Youll have to take on even more debt to fix your car.
Its important to leave yourself a little bit of flexibility each month so you might live comfortably.
The best way to do this is to track your spending.
If youre adamant about aggressively paying off your debt, see where you could cut costs in other areas.
Youll also be able to see your spending trends and balance them over the course of the month.
Youre Sacrificing Your Future
Getting out of debt will make for a better future.
These retirement accounts allow you to compound the growth of your contributions over time without paying capital gains taxes.
Some 401(k) plans also have the option for an employer match.
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