(InvestigateTV) — More than a third of Americans set a goal this year to pay off debt or at least reduce it in 2025, according to NerdWallet.
Sara Rathner, a credit card expert with NerdWallet, said it’s a wonderful goal – especially since high-interest credit card debt can be both stressful and expensive.
She said now is the perfect time to check in on your progress.
“So, take a moment and check in to see where you stand today because it’s going to look different today than it did at the start of this year,” Rathner suggested. “Pull up your recent statements for your credit cards and other loans you have, like a personal loan, car loan, or mortgage, and see the total amount you still owe and what your interest rate is. Especially with credit cards because that can fluctuate over time.”
She said this kind of snapshot helps you measure how far you’ve come and how much is still left to tackle.
“You definitely want to celebrate any progress you’ve made toward paying off debt,” she encouraged. “Perhaps not by making a large purchase, but you know, hang out with a friend who’s cheering you on. Get a cup of coffee, go for a walk, go out for a hike. Some way to mark the occasion, especially if you’ve hit certain milestones, because it really is hard to pay off debt.”
If progress has been slower than expected, Rathner said that’s normal too. Many people fall off track due to unexpected expenses.
Her advice: be kind to yourself, reset, and start again.
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