How to Get Out Of Debt in 2021

ASHBURN, Va. - Dec. 28, 2020 - PRLog -- Can Americans look forward to a brighter future in 2021? Consumers wouldn't get blamed for a pessimistic view between the pandemic, the elections, and uncertain economic prospects this holiday season.

Certainly, the stay-at-home-theme in 2020 has given Americans much time to think about their finances. With consumers aged 35-44 carrying an average of $133,100 in debt, including cars, credit cards, & mortgages, it's no surprise people are looking for ways to dig themselves out of the hole.

And, while millions of Americans struggle financially, the reality is millions of others have amassed savings, unlike any other year in the last century.  For sure, those lucky enough to work from home had a lot to do with it.

Indeed, there's something to be said about starting and adhering to a budget. But, if consumers are to be successful in sticking to their budget, it needs to generate a monthly surplus of income. Then, that money can get deployed toward the reason for starting the budget, which could be paying down the holiday debt, saving for an expensive purchase, or investing for their retirement.

"The fastest way for consumers to get out of debt is first, increase the amount of money they have leftover at the end of every month. By cutting expenses and increasing income the monthly surplus can get used to pay off debt using the debt avalanche method," adds Orford.

The Financially Independent Millennial (https://thefinanciallyindependentmillennial.com/) is a leading financial publication based on a best-selling book by Rick Orford. It offers consumers sensible ways to get out of debt, save & make more money, and achieve financial independence.

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If you would like to read the complete article, you can read it here: How to get out of debt fast in 3 Easy Steps (https://thefinanciallyindependentmillennial.com/how-to-ge...) or, watch the YouTube video here: How to Pay off Debt Fast in 2021 (https://youtu.be/i2hj_WNCADQ)