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4 quick tips to reduce your debt.

We all know that debt is generally something you want to minimize. But sometimes, our life situation causes us to extend beyond our means. While repaying all your debt may seem overwhelming, it helps to formulate a plan and execute it. Use these quick tips to help you get started today! 

Reorganize Your Budget

Take a closer look at your budget. If you don’t have a budget, now is the perfect time to create one! Once you’ve laid out expenses, debts and other obligations, if your goal is debt-elimination, see where you can reorganize spending to dedicate more income toward your debt payments.
Insider tip: United Community Bank digital banking customers get exclusive access to our Personal Financial Management tool which allows you to view spending habits, calculate net worth, set budgets, link accounts from other institutions and more.
Already an online and mobile banking customer? Sign into your account to access the tool. Still need to enroll? No worries. Click to get started.

Monitor Your Credit

Review your credit reports and look for accuracy as well as areas for improvement. Often, debt management affects your credit score, so be sure to keep an eye on it and work toward improving it when and where you can.

Pay on Time

A simple way to stay on top of debt and manage your credit score—always pay on time. Payments make up a good portion of your credit score, and they should be an integral component of any debt management timeline. Utilize flexible online payment resources and bill pay to ensure you don’t miss a payment again.

Use any Extra Cash

Tax returns, garage sale money, Christmas cash? Use it to overpay a minimum or pay off a balance entirely. While debt likely isn’t the first thing you’d want to spend the extra money on, think long-term. The quicker you pay off your debts, the sooner you can reduce the added stress and put your money toward the things you want.
Looking for a more aggressive plan? Click to learn more about debt reduction solutions.

Keep Learning 

Budgeting 101.
Managing your debt.
Tips for setting financial goals.