Living

How To Actually Break Free From Debt (A Step By Step Guide)

That four letter word - debt. No one likes it, but almost everyone has it. Student loans, credit card debt, car loans, mortgages. Debt seems to be an unavoidable part of life. But it doesn’t have to be. With some work, discipline, and patience, you could be living in the happy state of “debt-free.”

By Paula Gallagher5 min read
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Shutterstock/Dean Drobot

The average American accumulates multiple kinds of debt in their lifetime. We take out loans to go to college, buy a car, and buy a house. We use credit cards to buy things now or to carry us from paycheck to paycheck. And we shoulder that debt through life. In fact, 73% of Americans are likely to die still in debt.