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Best Ways to Reduce Debt Fast
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[QUOTE="Mika, post: 284700, member: 29399"] First and foremost, you should avoid getting into debt. If you already have debt and want to pay your debt, you need to do two things, one, start working more to generate more money, and two, stop making unnecessary spending so that you can save money and use your savings to pay your debt. These are the basic methods to pay off your debt. However, there are also a lot of other strategies that you can use to reduce your debt. For example, debt consolidation is a very effective debt-reducing strategy. If you have multiple loans, you consolidate your multiple loans into one loan and start paying your loan. However, you need to make sure your interest rate is lesser than what you were paying previously. Another effective strategy is to pay off your higher-interest loan first and then focus on lower-interest debt. This method will allow you to save money on payable interest. [/QUOTE]
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