These years are labeled “The Busy Years” for a reason. With all that is happening for folks in this generation, reducing debt and controlling spending is no easy task and yet crucial for long term financial wellness. According to many financial professionals you need to pay yourself first by saving for retirement and focusing on reducing your debt and becoming debt-free. Creating and utilizing a budget is an extremely valuable tool in managing expenses and debt. Creating a budget will shed light on areas that have excessive spending. Once you get your monthly expenses under control you can move on to paying off credit cards and then focus on other debts you may have. Being debt-free by retirement is a real possibility with some planning and determination.
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