Listen Now: Debt Free
Want to be debt free? There are ways to fast track yourself to a zero balance.
Right now the average american household has fifty seven hundred dollars in credit card debt. But no matter the number, one Illinois couple says becoming debt free is possible for anyone.
In June 2013 they decided to buy a home, but didn’t want to be saddled with a mortgage for years to come. So with a few tricks were able to make their final payments this past June, 25 years ahead of schedule. So what are their six tips to success?
Number one: have multiple bank accounts. The couple has an account for everything; dining out, a car fund, and bills are just a few examples. Then you also need a main hub account. This is where direct deposits go and then the money is divided into all the other accounts.
Next up, make payments twice a month instead of once a month, knocking time off your plan.
For more tips to zero, check out the full article now. A little self control can really pay off.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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