A financial planner says most people fall into one of 2 categories, and the key to paying off debt is moving from one to the other

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A financial planner says most people fall into one of 2 categories, and the key to paying off debt is moving from one to the other
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Do you make more than you spend, or spend more than you make?

are a great place to start, since they automatically download credit and debit card transactions from your bank to help you get a sense of where your money is going. You can sort them by transaction, and rely on the tech to keep you accountable. When an app is watching, there's no way to"forget" to log a purchase.

If you are tackling consumer debt from your everyday spending patterns, though, once you have that data, Face recommends taking a serious, honest look at your spending and ask yourself what you could have done differently, and what you could do differently going forward. Many people focus on cutting expenses to help get out of debt, but be sure to look at the other side of the equation, Face says. Are there ways you couldto pay off those bills faster? Think about if there's something you love to do that could help you make money on the side, like teaching a skill or language, or taking care of kids or animals.

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