Personal Finance Tip #5: Pay Off Consumer Debt

This tip is a biggie: Pay off consumer debt. (Especially credit cards.)

Debt costs you money. Sometimes thousands of dollars. The interest charges don’t bring you anything tangible — or even tangible — in terms of benefits. All interest from debt represents is money you pay to get someone else rich. My guest post on My Dollar Plan offers a way to plan your way out of debt.

image credit: sxc.hu

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