The Best Method for Paying Off Each Kind of Loan

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By Geoff Williams

If you sometimes daydream about being thrown into an old-fashioned debtor’s prison, small wonder. According to a recent analysis by the research company Gallup, which based its information on data collected by the Federal Reserve, the average household has $7,828 in revolving credit card debt.

Meanwhile, Americans are also juggling mortgages, auto loans, student debt and personal loans. In fact, earlier this year, the U.S. Department of Education released a report noting that more than 40 percent of Americans with federal student loans are behind on payments.

So what’s the best method for paying off each kind of loan? Experts recommend the following approaches.

Read the Full Article at money.usnews.com >>>>

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Arnaldo Rodgers
Arnaldo Rodgers is an educated Psychologist and works as a Elementary grade teacher and counselor. He is also editor of Veterans News Now and reports on all issues related to U.S. Veterans. He is dedicated to excellence and making sure all Veterans get the news they need to make sure their lives are of the highest standards possible.

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