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The four most common ones?
you’re free to align the payment due dates with when you know moneys coming in.
And then the prioritization comes right behind it, he said.
He explained that there are two approaches to prioritizing debt repayments.
you might tackle the debt thats charging you the most interest first.
And so because of that, youre less likely to overspend in the first place.
But there are also more severe consequences, he stressed.
Debt can hold you back from building an emergency fund.
Neuenschwander emphasized that youre risking your future if youre constantly just paying off things from the past.
Debt can put you really far behind for your other goals, he said.
Its not just the monetary cost of what the debt costs you, Neuenschwander explained.
Its what it prevents you from doing in the long run.
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