Tips with Kelly Brantley on eliminating debt
When it comes to paying off debt, “slow and steady always wins the race,” says financial planner Kelly Brantley.
Brantley has some advice to get out of what she calls “the debt snowball.”
She says you should make a list of all your debts, from small to big. From there, make minimum payments on everything but the smallest debt. Use any extra money you have to try to pay off the smallest debts.
Brantley advises not to start paying off debt from the highest interest rate as it can elongate the process of getting your debt paid off. She says by starting with the lowest rate it builds momentum to move on to pay off the next debt.
If you’re currently in debt, Brantley advises not to start investing in a 401k retirement program. Follow the baby steps and make sure to have an emergency fund, get the debt paid off, then you can begin to invest in a 401k plan. When you begin to invest in a 401k, Brantley advises starting off by adding 15% in the account.
To learn more financial tips with Kelly visit her website at