Reduce Debt
We know how overwhelming debt can feel. That’s why we’re here to help—you don't have to do it alone. We offer personalized solutions to reduce debt, save money, and move closer to the future you want.
Gather all your information and make a plan.
Track your income and expenses
Set financial goals
Create a budget
Budget Calculator
| Category | Cost | Percent |
|---|---|---|
| Rent / Mortgage | $600 | 20.00 |
| Food | $150 | 5.00 |
| Entertainment | $40 | 1.33 |
| Medical | $250 | 8.33 |
| Gifts | $41 | 1.39 |
| Emergency | $83 | 2.78 |
| Savings | $1,835 | 61.17 |
Debt is like cholesterol. How is that?
When it comes to your finances, managing debt can be a lot like managing cholesterol. To improve your chances of qualifying for a personal loan, think of managing your debt like maintaining your cholesterol levels:
- Reduce "bad cholesterol": Work on paying down high-interest unsecured debts, like credit cards. This minimizes financial clogs.
- Maintain "good cholesterol": Continue responsibly managing secured debts, as they can strengthen your financial health profile.
With the right terms, you could consolidate your unsecured debts into one manageable payment, lowering your overall interest rate and clearing the "clog." This step toward financial wellness can help you breathe easier and work toward your broader goals. Remember, just like your physical health, your financial health requires attention and maintenance. Take the first step toward a healthier financial future with a personal loan tailored to your needs.
Discover Personal Loan - What You Should Know Apply for a personal loan
Get out of debt
Managing debt is the best way to find financial freedom. This Coach session acts as a virtual Debt Coach, providing useful strategies to manage your personal debt situation and create a plan to pay off your debts using the debt snowball or avalanche methods.
The debt snowball method is great for building strong habits of paying down debt. While it won't minimize your overall payments, it is often a more sustainable way to attack your debts.
Step 1: list your debts by lowest to highest regardless of interest
Step 2: focus extra money on paying down the smallest debt
Step 3: take what you were paying on that debt and add it to minimum payment on next smallest debt
Step 4: repeat until you are completely debt-free!
The debt avalanche method reduces the overall money you will use to pay off your debts. It requires a lot of patience, but will pay off if followed through.
Step 1: list your debts by highest to lowest interest rate
Step 2: focus extra money on paying down the debt that has the highest interest rate (this will often be credit cards)
Step 3: take what you were paying on that debt and add it to minimum payment on the debt with the next highest interest rate
Step 4: repeat until you are completely debt-free!
Debt Consolidation Options
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Earning Extra Income
When it comes to earning extra income, you’ve got options—and those options have options! In this Coach session, walk through the ins and outs of extra income, including expenses and tax implications. To begin the Coach session, select Get Started. Next, follow along, answer questions, and provide information when asked.