The act of paying off debts (either partially or completely). One may do this to lower or eliminate a monthly payment and regain control of one's personal finances. There are different ways to do this, but the most popular are based either on the total amount of each debt or on the interest rate. There are different arguments as to which one is better, but either is better than doing nothing but paying the minimums.
Questions tagged [debt-reduction]
178 questions
26
votes
6 answers
Does it make any sense to directly contribute to reducing the US national debt?
As an American citizen, does it make any financial sense to donate money in hopes of helping to reduce the US national debt?
Thanks.
Latency
- 263
- 2
- 5
2
votes
2 answers
Best way to pay off debt?
I have a home equity loan- ~$42K at 7.5% and about $10K in credit card debt at 16%+. I have several hundred thousand dollars in vested stock options from my company (part of my long term incentive plan). I also have about $80K in stocks in my…
Kowalski
- 21
- 1