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What are some useful tips for reducing debt?

Updated: 8/20/2019
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10y ago

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One useful tip for reducing debt is to not spend more money than one has in hand or in one's account, which means not taking out loans or using credit cards to avoid racking up debt to start with. Another good way to reduce debt is to pay extra each month on outstanding debts and loans in order to reduce one's principle and, thus, pay less interest throughout the life of the debt.

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10y ago
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