Paying off high-interest debt, such as credit card balances, requires patience and resolve. To achieve this, you’ll need a strategy that works for you and your financial situation.
CNBC Select breaks down the five common ways to get out of debt. Read on to see which one is best for you.
Consolidate your debt
Juggling multiple debts can be overwhelming, especially if you’re tracking numerous payment due dates and interest rates. It can take a toll on your mental and financial health.
Debt consolidation can bring some relief. When you consolidate your debts, you roll them into one payment, hopefully at a lower interest rate.
Balance transfer card
A with a 0% APR promo period is perhaps the most cost-effective consolidation tool for credit…
