Most of us are familiar with debt, and the various feelings it can stir. Whether you’re feeling crippled by a credit card bill, stymied by student debt, or motivated by a mortgage, the most important thing you can do is to stay on top of your debt and all the sentiments it can bring up. To do that, follow these three steps:
- Get the full picture. Take time to get a complete picture of your money, including how debt might be impacting other areas of your finances – whether you know it or not.
- Take a small step. Complete Fidelity's Financial Wellness Checkup to get your game plan, then work on a suggested next step. Remember, a single step like consolidating credit card debt can cover quite a distance if you keep at it and stay focused, so move forward at a pace that works for your unique situation. You might even feel relieved.
- Understand the emotional obstacles that are in your way. Money – especially debt – can bring up emotional stressors. As you work to get your debt under control, identify your roadblocks and nurture what’s helpful.
Check out these resources for more help with ditching your debt.
Read: Learn more about different strategies to pay down your debt.
Support: Talk to an advisor through EY financial coaching. You can also schedule a 1:1 appointment with a Fidelity representative by clicking here.
This information is intended to be educational and is not tailored to the investment needs of any specific investor.
The third parties mentioned herein and Fidelity Investments are independent entities and are not legally affiliated.
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Take the first step forward
Getting a clear picture of your finances can help you create a plan, reduce stress, and take control of your debt.
