Video
Step 1: Stop the Bleeding
Whether your sticky situation started with unexpected needs or too many wants, here’s how to avoid, evade, and eliminate new debt.
Watch the video for Step 1, then put your financial Survival, Evasion, Resistance and Escape training into action.
The Keys to Success
- Survive by not adding more debt: Stop the bleeding.
- Evade new debt by paying with cash or with a debit card.
- Resist the temptation to take on new debt by identifying and changing problematic borrowing behaviors.
- Escape late fees and penalties by paying on time.
Act Now
How will YOU evade, resist, and escape the cycle of adding new debt?
Start by reflecting on the decisions and behaviors that led to your current debt situation. Then, brainstorm strategies to “Stop the Bleeding,” and commit to implementing at least one strategy per category.
Note: Put your financial SERE training into action by completing Activity 1 in your workbook.
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Establishing a solid credit reputation will help you secure a strong financial future. This blog post and learning guide can put you on a path to success.