9 Mistakes People Make Trying To Get Out of Debt!

7) Falling for Low or No Interest Offers

When you’re trying to pay off debt, it’s a big mistake to take on more at the same time. If you have good credit, chances are you get wooed by offers for low or no interest credit cards. To some people, this can be very tempting, especially when things are already running tight. Don’t give in to temptation. Experts advise you should never take on more debt when you’re trying to pay debt down. If you’re using a low or no interest card to transfer a balance from a higher one, don’t use it for anything else. The goal is to eliminate, not accumulate, debt. This means, if you really want to get out of debt, do not accumulate any more at all for any reason. It could cause a tailspin effect which you may not be able to recover from quickly or easily.

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