Profitt Report: Losing debt or losing weight, which do Americans prioritize?


    Photo credit: MGN. Cropped Photo: www.cafecredit.com / CC BY 2.0

    Americans are often focused on losing two things: debt and excessive weight. However, one of these is taking top priority according to a survey by Compare Cards.

    The survey finds more people are focused on tackling debt than shedding pounds.

    “Debt is at record high in this country and interest rates are just continuing to rise so 2019 is a really good year to focus on knocking down that debt for good,” said Matt Schulz of Compare Cards.

    When faced with two goals, losing debt or losing weight, he said more Americans are focused on the debt.

    “There are a lot of similarities between losing weight and losing debt and one of the big keys is to not beat yourself up if you fall off the wagon a little,” Schulz said.

    As far as debt goes, Schulz said to make a budget. Know how much money is coming in and out of your house. Then, call your credit card issuer and see if they’ll reduce your interest rate.

    “People would be stunned how often that works and it really is a case of you having nothing to lose,” he said, “calling up your card issuer and saying, hey, I have a 20 percent interest rate, could you knock it down to 17 [percent] for me and it's such a competitive credit card market place that there's a good chance your issuer is going to work with you if you have decent credit.”

    The Profitt Report wants to hear from you - please send consumer questions and story ideas to ProfittReport@WSMH.com

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