“Money is the last taboo subject,” said So Fi Chief Operating Officer Joanne Bradford in a May episode of the Digiday podcast. They’re uncomfortable with talking about how much they make, how much they save, what they can do with it.” According to the American Psychological Association’s latest “Stress In America” report, money is the number one cause of stress—ahead of work, family, and health concerns.
So unless you’re expecting a windfall from a long-lost relative (who probably didn’t talk about money either), it’s up to you to come up with a game plan to manage your finances.
You can’t borrow your way out of debt in the same way you can’t get out of a hole by digging out the bottom.
Getting out of debt isn’t quick or easy, but it’s the first step to achieving lasting financial health. It simply means you’re taking out one loan to pay off a bunch of loans—or consolidating the debt to one payment.
Fortunately, applying online usually doesn’t take more than a few minutes.
It’s typically considered for people who have high consumer debt.
But most of the time, after someone consolidates their debt, the debt grows back. They still don’t have a game plan to pay cash and spend less.
These are not quick fixes, but rather long-term financial strategies to help you get out of debt.
When done correctly, debt consolidation can: There are several ways to consolidate debt, depending on how much you owe.