Your Money Matters: Marriage and money

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Cliff Morgan

Strateic Wealth

Cliff’s Tips:

Credit Cards:
Try to pay off balances in full every month. See if you qualify for a lower interest credit card when full payments are not feasible.

High-interest loans:
These need to be paid off as soon as possible to avoid paying extra interest. Consider tapping into your savings to pay off loans with the highest interest.

Student Loans:
Many different repayment options exist for government-backed student loans, and you should get the details from your loan servicers.

Debt Consolidation:
By combining all debts into one loan with a lower interest rate, you can retire debt more quickly and efficiently.

Debt Settlement:
Using a debt management company, or by contacting your creditor and working out a settlement can also be a good strategy to pay off loans at a lower rate.