Bankrate offers a comprehensive guide on how to escape bad debt within a year through careful planning, budget adjustments, and utilizing various financial tools. The article emphasizes the importance of understanding your total debt, assessing expenses, and choosing the right strategy, whether it's the snowball or avalanche method. It also explores practical steps like negotiating with creditors, automating payments, and increasing income through side gigs. Furthermore, the piece highlights the significance of building an emergency fund and resisting further debt to maintain financial stability.
Read the full article here.