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Less is more this year: Work on decreasing your debt for a brighter financial future

Less is more this year: Work on decreasing your debt for a brighter financial future

Posted On: January 22, 2020 by Falcon National Bank in: Your Financial Life | Personal Banking

It’s 2020, so this should be the year that provides clarity for you to look at your personal finances with an eagle eye. Be honest with yourself, did the holidays cause you to go into debt? Because it’s a new start to the year, we want you to start the year strong and achieve financial stability before next December. Untangle yourself from all the debt you’ve accumulated over the years with these simple tips: Cut up your credit cards immediately The fourth biggest cause of debt (after student loans, auto, and homes) is credit card debt. Experts estimate that credit cards are responsible for 26.2 percent of total debt in the United States. Further statistics establish that the average credit cardholder has at least four credit cards. Credit cards are handy in an emergency or to help establish cash flow during tight financial times. Yet, using credit cards as a crutch and digging yourself more into debt each month is not the financial future you want. Instead of

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