Debt can be financially stressful, thanks to compounding interest pushing the finish line further away and payments shrinking your monthly cash flow. But carrying that burden doesn’t only affect a borrower’s wallet.
A recent survey from Freedom Debt Relief and Money.com found that the top motivations for paying off debt aren’t actually financial: 48% of respondents said their desire to stop feeling stressed or anxious about money contributed to their motivation to reduce their debt, and another 48% said they wanted to regain control of their finances. That’s compared to 45% who were motivated by rebuilding their credit score and 44% who wanted to save on interest and fees. The survey asked 1,800 Americans with at least $10,000 in…