Rates Are Now Sky High. Here’s How To Manage Your Debt

Thanks to the Fed’s moves to combat inflation, interest rates are at multi-decade highs. If you owe money or need to borrow, you need to borrow smart, or risk getting buried in an avalanche of debt.

We shared strategies to manage credit card, auto, home equity, and student loan debt with Kiplinger Personal Finance reporter Kimberly Lankford.

While rates were low, it was easy to overconsume, advised Mari. But the cheap debt era is over. Variable rate debt has now become very expensive, so you need a strategy to pay it down and get yourself back on track.

Check out the full article here.

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