Credit cards debts can be tricky to handle. Compound your efforts with this guide to quickly and reliably clear your debts.
With latest figures on average debt per Singaporean standing at almost S$53,000, chances are you’re dealing with some amount of debt.
The problem with debt is the interest. Compounding interest makes it such that the longer you wait to pay off your debt, the more you’ll end up paying.
Even more insidious, interest payments can rob you of future financial stability. Every dollar you pay as interest becomes one less dollar in your savings account or investment portfolio. This means that the more you delay clearing your debt, the worse off you’ll be in the future.
Because of this, clearing interest-bearing debt needs to be a high priority. If you have credit card balances that will take you more than 6 months to clear, follow this step-by-step guide to reliably clear your debts as quickly as possible.