America Saves Week: Save by Reducing DebtFebruary 25, 2021
It’s Day Four of America Saves Week, and here’s the ONE take away you need to know as you consider today’s focus, “Save by Reducing Debt”:
WHEN YOU PAY DOWN YOUR DEBT, YOU’RE SAVING!
By actively reducing your debt, you are saving on interest. When you pay on time, you save on late fees and maintain your credit score— saving money long-term.
With so many Americans being affected financially by the pandemic, actively paying down your debt may not be a priority, and that’s okay. Be sure that you talk to your creditors and take advantage of any repayment options or arrangements that allow you to keep your credit score intact and avoid additional interest and late payment fees.
We encourage you to join a community of people on a similar savings journey. The #ThinkLikeASaver Facebook Group is hosted by America Saves and is a great place to get ongoing support and interact with like-minded people committed to saving effectively.
Learn more tips and resources HERE.
#ReduceDebt, #PayingDownDebtIsSaving, #ASW2021