Top

How to Bag an Extra $5K in 2016

January 19, 2016

Countless Americans ring in the new year determined to shed those few extra pounds around their midsection. But the new year is also a good time to sit down and take a good, hard look at your finances. Maybe you could add shedding debt to your list of New Year’s resolutions?

If reducing your debt load seems overwhelming, just remember how great you would feel if you started 2017 with an extra $5,000 in your bank account.

First, take a look at your total debt. A recent NerdWallet study found that the average American household is shouldering $129,579 in debt – an alarming $15,355 of that on credit cards. That means the average American is forking over more than $6,600 each year in interest, roughly $2,600 of it for credit cards.

Read More on Daily Finance