PartnersAdmin PSA: Attaining financial security and eliminating debt
Post date: Aug 14, 2020 6:7:2 PM
According to Scott Tominaga, CEO of PartnersAdmin LLC, one of the biggest hurdles in attaining financial security is debt. Debt is one of the biggest problems most Americans have to contend with throughout their lives. Only a minuscule percentage of Americans are debt-free; the rest have to deal with creditors regularly. And this is a huge source of stress.
Fortunately, many Americans have the good sense to consult with financial experts and have decided to take control of their lives and eliminate debt once and for all. As a public service, Scott Tominaga lists below two ways Americans can effectively eliminate personal debt. Pay off debts with higher interest rates. A simple once-over of contracts will show people which debts should be prioritized. Paying debts with higher interests off first lowers payments over time. Once a person has dealt with debts with higher interest rates, they can start on debts with lower interest rates.
Perform a lifestyle check – and be honest about it.
Scott Tominaga mentions that far too many Americans are rather sensitive when it comes to their personal expenses. However, if they find themselves too far off in debt, it may be time to take a long, hard look at the stuff they regularly purchase for themselves. And in all probability, it may be time for a lifestyle change.
Scott Tominaga earned his degree in Business Finance from Arizona State University in 1988. An experienced professional in the hedge fund and financial services industry, his skills involve expertise in middle and back-office, accounting, compliance, and administrative functions within financial services firms. For more reads on finance and investment, visit this blog.
