1. Stop spending and start saving
American households owe more than $1 trillion in credit card debt, according to the Federal Reserve.
Some of us simply lack the discipline to save. Others have meager salaries and turn to borrowing to make ends meet.
However you got there, it’s time to add it all up — there’s no advantage to remaining in denial — and confront it.
Just as our forefathers were able to imagine a nation of liberty long before it materialized, you need to believe you can climb and conquer your own personal mountain of debt. Starting this July 4, commit to paying down your debt a little at a time with every paycheck.