Part of my job is to make sense of all that I hear, and to retell it in a forceful way so that the decision-makers at Treasury can hear it. At least that’s how I see it.
The people who are filing for bankruptcy in increasing numbers every year, it’s not the poorest. It’s not the people at the economic fringes. It’s people who worked hard and played by the rules.
Goals work. Pick one debt, and then put every dime into paying down that one debt. Once that debt is paid off, start paying down the next debt. Pretty soon it’s time to move from paying debt to building savings.
