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How to Tackle Your Debt

  • Writer: Nathalie Edeen
    Nathalie Edeen
  • May 9, 2022
  • 2 min read

Updated: May 24, 2022

When managing your money, it is important to acknowledge your potential debt. In this blog, I’ll give you a breakdown of two different types of debt and how to tackle them.


First, let’s start with student debt. This is a common type of debt for people who went to a college or university. To tackle this type of debt, first, set the longest repayment period to provide the most flexibility with your monthly payments.


However, just because you set up a 30-year repayment plan does not mean you can’t pay it off in 10 years! What it does mean, is that you have control of when and how much you want to repay.


Repaying the minimum provides you with the flexibility to contribute to savings and retirement. Also, consolidate your student loans to provide ease of payment and research refinancing options to provide an overall lower interest rate.

Now, when tackling your credit card debt, start with paying off the highest interest rate card first. Depending on the balance due and the interest rate, it may be time to consider reducing contributions to retirement accounts to funnel more funds to knock out the credit card debt.


Tip: Consider a balance transfer to a 0% interest card. This strategy is not available for everyone and is contingent on your credit history.


This can also be a slippery slope if you are not disciplined enough to pay off the balance within the allotted 0% introductory period. As mentioned in one of my previous blogs, creating a 3–6-month emergency fund of expenses will help prevent you from accumulating unnecessary credit card debt. Allowing you to borrow from yourself at 0% and pay yourself back!


Remember, if you need any help or have any questions, reach out to me here! I’d be more than happy to help.

Registered Representative of, Securities and investment advisory services offered through Hornor, Townsend & Kent, LLC. Registered Investment Adviser. Member FINRA/SIPC. 600 Dresher Road, Horsham PA 19044. 800-873-7637, www.htk.com. HTK is a wholly-owned subsidiary of The Penn Mutual Life Insurance Company. HTK does not offer tax or legal advice. Caserta & de Jongh, LLC is unaffiliated with HTK. For Educational Purposes Only - Not to be relied upon as financial advice. Not all topics discussed may be suitable for all investors.


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Securities and investment advisory services offered through Hornor, Townsend & Kent, LLC. Registered Investment Adviser. Member FINRA/SIPC. 600 Dresher Road, Horsham PA 19044. 800-873-7637, www.htk.com. Caserta & de Jongh, LLC is unaffiliated with HTK.  HTK is a wholly-owned subsidiary of The Penn Mutual Life Insurance Company. HTK does not provide legal and tax advice. Always consult a qualified tax advisor regarding your personal tax situation and a qualified legal professional for your personal estate planning situation. 

Check the background of your financial professional on FINRA's BrokerCheck.

Investment advisory and financial planning services are provided by John Caserta, HTK Investment Adviser Representative. Our representatives are insurance and securities licensed in our home state of CT, as well as additional states.  For more information, please contact our office.  This is not an offer or solicitation in any state where not properly licensed.

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