Tips and Support to Get Out from Under Your Debt Burden
News from DoD Live:

Brenda S. McDaniel, Program Analyst, Personal Financial Readiness Program
(Military Community and Family Policy)

A better credit score, less stress, and the financial freedom to keep more of your money for yourself–these are just a few of the benefits of paying down your debt. Reducing or eliminating debt also contributes to financial readiness, helping service members focus on the mission at hand instead of worrying about the finances at home. The sooner you address any debt issues, the better, so take control, make a plan, and get started on getting rid of your debt.

The first step on your path to debt reduction is facing your debt problem and resolving to fix it. Discuss your debt with your family or a financial counselor as a way of acknowledging the reality of your situation and taking action to improve it.  Second, stop using credit for at least one day, and use checks, cash, or debit or ATM cards to cover all of your expenses using money you already have. Day by day, try to continue using only cash or its equivalent—not credit—to pay bills and make purchases.

Next, create a spending plan you ca…………… continues on DoD Live

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