Debt Repayment Mistakes to Avoid | Kerishco Financial Services
Paying off debt is one of the smartest financial moves you can make — but many people unknowingly sabotage their progress. Here’s the number one mistake to avoid.
The Mistake: Paying Off Multiple Debts Without a Plan
Throwing extra money at random debts might feel productive, but it’s not the most effective strategy.
The Solution: Pick a Method and Stick to It
• Debt Snowball: Pay off the smallest debt first for quick wins and motivation.
• Debt Avalanche: Pay off the highest‑interest debt first to save the most money.
Bonus Tip: Stop using credit cards for new purchases while paying down debt.
Conclusion:
A clear, consistent plan makes all the difference in becoming debt‑free faster and with less stress.
