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How to tackle your debt before it consumes you

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Being in debt is something that can loom over you. In 2016, consumer debt in the U.S. totaled more than 11 trillion dollars.

Whether it is mortgages, auto loans or student loans, debt can completely consume you. So, Here are a few ideas to help you tackle your debt.

The simple dollar states that the first step to beating debt is:

  1. Understanding what you owe- Do not live in denial as your debt continues to pile up. Write down every debt you have and next to that write the total amount you owe. The interest rate you are paying and the minimum monthly payment.
  2. Get organized- Mark on a calendar when each bill is due, and cross it off when you have paid it. Also, set alerts, some offer text alerts or email reminders.
  3. Cut spending- reducing your spending is a simple and quick way to get you out of debt. The best way to do this? Stick to a budget every month. 
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