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Your Money: How To Eliminate Debt

Credit cards are displayed in Haverhill, Mass., June 15, 2017.

Credit: Associated Press

Above: Credit cards are displayed in Haverhill, Mass., June 15, 2017.

Your money is not really your money if you’re drowning in debt.

In the third installment of Midday Edition's personal finance series, we’re taking on the subject of paying off debt.

Chandra Aduesi is a financial planner who runs Elise Financial Services and a volunteer for the Society for Financial Awareness, which is headquartered in San Diego.

Aduesi joined Midday Edition on Wednesday to give listeners tips on paying off debt.

Here are a few of the tips she shared:

—Write down your short-, mid- and long-term financial goals and your spending plan or budget.

—Put a large portion of your money towards paying off the debt, while saving a smaller portion in a reserve or emergency fund.

—Use your checking account, not credit cards, to purchase goods.

Online resources to help you pay off your debt:

Debt calculator from Credit Sesame

Listen to the full interview:

Your Money: How To Eliminate Debt

GUEST:

Chandra Aduesi, financial planner, Elise Financial Services and volunteer, Society for Financial Awareness

Transcript

Do you have a money-related question or tip? Ask us here.

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