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August 2015 Archives

Debt elimination strategies in Kentucky

One very popular method that Kentucky consumers use to pay off debt is called the snowball strategy, where they start with the smallest debts and pay them off. As smaller debts are paid off, individuals then move on to larger obligations. The reason this tends to work is that when people feel they are making progress or have achieved a goal, even a small one, they are likely to keep working towards a larger goal.

Potential Fed interest rate increase can affect credit card debt

Consumer debt is a major problem for many people in Kentucky and across the U.S. From unemployment to using credit cards for too many expenses, debt can accrue for a number of reasons. There are also less obvious issues that can cause debtors to struggle. An example is an interest rate increase from the U.S. Federal Reserve.