Concrete Steps Toward Getting Out of Debt

Christian talk radio with Rob West

At the start of a new year, many people make resolutions to get out of debt. However, motivation often wanes quickly. To stay motivated, Rob West of the MoneyWise Live radio program suggests making your resolutions SMART (Specific, Measurable, Attainable, Realistic, and Timely). He then provides practical steps to help turn a resolution into genuine progress. First, get a clear picture of your debt, stop adding to it, and tell someone what you're doing. Then, create a specific plan for paying down your debt, such as fixing your overall payment at the same amount each month and attacking the lowest-balance card. Finally, if you have an accountability partner, you’re more likely to succeed. Rob also answers listener questions about Social Security retirement benefits, fiduciary advisers, and long-term care insurance.