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How To Manage Debt and Reduce Stress In Three Simple Steps

Updated: Jul 31, 2023


#FinancialWellness #FinancialHealth #WomenandMoney #WomenFinance
Paying off debt can be stressful. Here are three simple steps to start getting your debt under control.

We all have financial pressures in life. Things happen, stuff goes wrong, and we need to pay for our basic everyday needs.

You might be used to saving money and juggling your budget, but that doesn't mean the pressure isn't getting to you – results from the 📄 "Mind Over Money" Survey by Capital One and The Decision Lab show that 45% of Americans worry about managing their debt levels.

Paying off debt can be stressful. Knowing where to start or how you'll reach your goal can be challenging. But there are many ways to make paying off bad debt less overwhelming. Budgeting and cutting out unnecessary spending can help you get back on track - quickly! Here are some tips for getting started:


Budgeting and cutting out unnecessary spending can help you get back on track - quickly!

1. Tacking Spending: Are you spending more than you make? Taking inventory is a great way to start getting a handle on your finances.

2. Budgeting: Create a budget, then stick to it! You'll be amazed at how much money you can save by doing this! That means no impulse buys, no lattes every morning (they're expensive!), and definitely no shopping sprees when payday rolls around.

3. Baby Steps: Don't worry! You can make finances less stressful by creating a series of small financial goals and working towards them.


Her Financial IQ is here to guide you through the top financial steps so you can get fiscally ready to invest! Check out HerFinIQ’s class “BEFORE INVESTING,” where Jessica Perrone helps you get your Financial Ducks in a row and ready to invest.


What are the Financial Ducks?

I created the "Financial Ducks" concept after working with women who thought they could invest and make enough money to pay off their credit card debt. To paraphrase Warren Buffet - the best idea I have is to pay that balance down ASAP. Let's go through it. You'll want to factor in how much you pay in interest. If, for example, you have a credit card with an APR of 18% and an investment that returns 6%, it's generally better to pay off the credit card so that you don't owe more in total than your investments earn.

The earlier you invest, the more wealth you can build. But you should start investing with a plan. You need to follow specific steps to be successful. This is where "Getting those "Financial Ducks" in a row" comes in, which sets the foundation of your financial life.

Investing may seem hard, but it is doable with the right plan. Luckily, HerFinIQ Students discuss and work on these plans in the "Before Investing" and "Investing for Beginners" Classes.



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Dear Friend: This content is for educational purposes only and is not investment, tax, or financial advice. Always do your own research. You are solely responsible for all investment, tax, and financial decisions that you make. Please read the full disclaimer here.


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