Top Ways To Reduce Your Debt Amid Rising Inflation Costs

Consumers are facing the highest inflation rates in more than 40 years, making it easy to rack up credit card debt to make ends meet. NBC’s senior consumer investigative correspondent Vicky Nguyen reports for TODAY on money-saving lessons one woman followed to help pay off around half her debt in just over a year.

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#Debt #Money #Economy

[seventhchild]

I Love living a simple, debt free, healthy, spirtual 20 years ago I had small debt but thank God it's wasn't extreme, ...I cleared it and NEVER looked back!...BEING debt free adds to having better sleep, health, peace, and allows more room for adjusting to this pre depression times!...I've decluttered and replaced some things, ...NOW, I do not have to shop for the next 10

[MAG]

Everyone is saying personal finance.

Truth is that cost are doubling every 3 years. You can't 'personal finance' your way out of greedy merchants, Landlords & Shady azz banks with those hidden fees.

Its ok to rack up debt to take care of daily necessary expenses, whereas there's nothing to really do besides keep the costs down. But with inflation the way it is, if you can burn the debt down to Zero, we all would want to know how you did it.

[finanzferdinand]

When your paying more than 20% interest, that balance just aint coming down with minimum payments

[holiday]

Working together with a Financial Adviser to help reduce credit, then paying the FA via credit card.

[koukimonzta]

Time to dump that overspending girlfriend / wife in this volatile economy

[jonwarner]

Why do people get into debt? Never ever buy what you can't afford. Learn to be very frugal and reject consumerism. Embrace minimalism. Freedom is better than debt. "Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants, but debt is the money of slaves.". - Norm Franz

[Kamandi]

lovethe trolls in comments section lol

[micheleboyle]

I have owed money for probably 50 years …..sometimes a lot….sometimes a little….currently I went back to work because my youngest needs help….I have credit card debt again and it sucks……but I also owe taxes….and that is not easy to pay off…so back to work I went….and I only can make so much because of social security….it’s so hard also because food is so expensive…most of our food consumed is here at home….but it’s unbelievable what I spend even with a strict budget and a list….but on the up and up….I’ll not need any new clothes or personal items…I stocked up on that…I am probably a better frugal shopper than before and instead of buying cheap I buy the best so it lasts for a long time….also getting a roommate in October….hopefully by next year most of my debt will be very reduced…not the taxes but the rest….my advice is to pay attention and if you really could get by with an item for a little longer than wait till you have cash to replace it….ps…use your debit card I should say because places don’t even take cash anymore….

[mikedelta]

It's been 6 years since I had any debt higher than 1k past a month. Just bought a house Fml

[PG-tcos]

A untitled lady. I feel for her husband. They are getting screwed

[CEA]

So Watermelon. I bought 1 recently. $3 sale price. Few weeks later? $7 at the store. And if you're lazy and want to doordash ?? $8. And these CEOs are CROWING about RECORD PROFITS 📈

[ddellwo]

Sounds like “fancy girl” was living WAY beyond her means………🤔