How To Get Out of Debt Faster Than You Think (Encore)
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Cutting Up Credit Cards and Living Within Your Means
In this chapter of the podcast episode, they discuss the first and most important step to take when dealing with a significant amount of debt, which is cutting up credit cards. They highlight that even though credit cards may offer rewards or airline miles, it is crucial to eliminate them because the average American has a $16,000 credit card balance. They explain that spending with cash or a debit card allows individuals to feel a stronger emotional connection to their money and avoid getting into further debt.
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