A10. I recommend listening to Yo Quiero Dinero podcast. Every time I had a question I would just google/YouTube it. The more you start to explore the more you will learn about the endless possibilities of becoming financially secure no matter your economic status. #ChatdeCrédito
A9. I don’t use any apps in particular since I invest with Fidelity using my laptop. I use Credit Karma and my Wells Fargo app to check my credit score every month. I also use all the free resources my job and credible social media accounts offer. #ChatdeCrédito
A8. Different ways you can invest for the future are by contributing the percentage that your employer will match on your 401k, through a Roth IRA, Index Funds, CD’s, High Yield savings accounts, and buying individual stocks from your favorite companies. #ChatdeCrédito
A7. Prioritize saving as much as you are prioritizing paying off your debt. Get into the habit of saving as little or as much as you can but also set a reasonable minimum amount that you will contribute monthly. #ChatdeCrédito
A6. They don’t pay the minimum payment, they forget to pay on time, continuing to spend on that credit card, taking out more credit cards, closing the accounts, and not addressing what caused going into debt in the first place and not creating an action plan. #ChatdeCrédito
A5. Debt settlement is for people who have stopped paying their credit cards or loans and don’t plan on making future payments. You negotiate and offer an amount to the creditor in exchange for your debt to be forgiven. #ChatdeCrédito
A5. Consolidating your credit means you are putting all the debt you have into one. You can do so by taking out a loan with ideally an interest rate that is lower than what you currently have and paying off your credit cards/loans with that one low interest loan. #ChatdeCrédito
A4. When you owe more than 30% of the available balance on all your credit cards combined, that can bring your credit score down. Aim to owe no more than 10% to allow your credit score to grow. #ChatdeCrédito
A3. Pay more than the minimum, consolidate multiple debts with one loan w/ a low interest rate, pay more than once a month, pay your debt with the highest interest first, pay your minimums and then pay more on the largest debt, and decrease unnecessary spending. #ChatdeCrédito
A2. I focus on the debt with the highest interest rate. The faster you pay it down or off, the less money you pay on interest. If seeing progress motivates you, you can also start with the debt with the smallest amount. #ChatdeCrédito
A1. Start with what you can, rather than ignoring or putting off your debt. You should pay at least the minimum monthly payment on all your accounts. If you can’t make a payment, give the company a call to see if it can be deferred for that month. #ChatdeCrédito
So excited to share with @Experian what I've learned about about paying off debt as a first generation Latina which helped me buy my first home and pay off my car and student loans before the age of 25. Join us! #ChatdeCrédito
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