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5 steps to pay off debt faster

DeFi Daily News by DeFi Daily News
January 19, 2025
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Over a third of Americans (38%) are prioritizing financial stability in 2025, according to an Allianz survey from December 2024.
John and David Auten-Schneider, hosts of Yahoo Finance’s Living Not So Fabulously podcast, sit down in-studio with Wealth host Brad Smith to share their five-step approach to clearing debt.
“The first step is to commit,” David advises. “Commit to a specific amount that you’re sending to your credit cards to pay them off every single month.” He follows with explaining to “not add any more balance” to your cards, because that “makes it harder to pay them off.”
John elaborates on their “debt lasso” method, which helps control debt more effectively: “What the debt lasso method helps you do… is rein in that debt so it’s easier to pay off more quickly.”
Watch the video above to hear all five steps given by John and David Auten-Schneider, sharing methods for tackling debt faster and fostering long-term financial habits to build wealth.

About Yahoo Finance:

Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.

– Get the latest news and data at finance.yahoo.com

– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)

– Follow Yahoo Finance on social:

X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance

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Tags: BondsbusinessCurrenciesDebtEquitiesFasterFXInvestingInvestmentMarketMarketsMoneyNewsNYSEPayPersonal FinancePoliticsSavingsStepsStock marketstocksWealthYahoo FinanceYahoo FInance Premium
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