Debt reduction is simple: Cut down on spending and put the extra cash toward debt.
To do that, you need to figure out where your money is going and cut out the extras you don't really need. If that's not enough, try lowering fixed expenses -- like refinancing your mortgage or negotiating lower interest rates with your credit card company.
Another option: Boost your income. If you always get a big tax refund, you're having too much withheld on your W4. If your paycheck's just not cutting it, look around for a better paying job, or take on a side gig. Once you have some extra cash, make a list of your debts and start paying off the ones with the highest interest rates first.
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