9 Debt Hacks

[This post is written and copyrighted by FIRE Finance (http://firefinance.blogspot.com).]

Jun 16, 2010: At present, debt is one of the greatest financial problems plaguing our country. Most Americans are struggling with debt and high interest rates charged by creditors. In fact, the first rule towards building a saving is to pay off debts. The second is to avoid debts forever. If we pay off our debts only to take on more, then we are in a catch-22 situation which can get us nowhere near building a healthy savings.

We had outlined a general strategy about how we had determinedly paid off our debts. Today we found a detailed step by step process to pay off debt at fool.com. It covers various scenarios specific to the needs of different people and then outlines a practical approach towards dealing with each situation.

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