4 Ways to Lower Your Debt by Year End

4 Ways to Lower Your Debt by Year End

Back in September, I reported that U.S. credit card debt reached an all-time high, with the average household owing a whopping $16,000. And while it's not just our credit cards we're abusing -- we're also borrowing way too much for things like automobiles and college -- credit card debt is pretty much the worst kind to have. Not only can carrying too high a balance ruin your credit, but it can also be one of the costliest mistakes you'll ever make.

That's why it's crucial to work on shedding whatever credit card debt you've accrued, and the sooner you do, the better. The good news? If you play your cards right, you can slash your debt substantially by year-end, despite the fact that it's only about a month away. Here's how.

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Source: Fool.com