Expert Network

Stephen Gandel

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The Money magazine senior writer on why using your 401(k) is a smart investment.

Lauren Young

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Lauren Young is a department editor at BusinessWeek, covering all aspects of personal finance. Before BusinessWeek in 2003, Young had a similar beat as a senior writer at SmartMoney. She also covered mutual funds and capital markets for Dow Jones News for three years and was a frequent contributor to The Wall Street Journal.

Jason Kelly

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The author of The Neatest Little Guide to Stock Market Investing tells us why investing is important, and how to decide what's right for you.
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Bite-sized pearls of wisdom from our editors, experts, and community. Hint: If this is your first visit, make sure you start by reading our First30Tips.

Taking the First Step

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You’ve taken an important step in choosing to reduce your debt. Just making that choice puts you on a different path—one of power and freedom. Imagine how wonderful it will be to see “zero balance” on your bills, and to hold your head up high, feel deserving and not afraid to answer the phone.

During the next 30 days, you will:

  • Determine where you stand in regard to exactly what you owe.
  • Organize your finances.
  • Address the emotions you have associated with debt and spending.
  • Set up a debt-repayment plan.


DID YOU KNOW? The average debt per U.S. household is $9,882, according to Cardtrak.com.

You don’t have to share that number. By taking control of your finances one step at a time, you’ll have more freedom than you ever imagined. Congratulations on deciding to reduce your debt.

Posted: 8/29/08
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