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Schwartz Financial Associates, Inc


701 Route 73 North, Suite 6, Marlton, NJ 08053

Phone: (856) 216-0390



May/June 2022

Pay Off, Not Down

U.S. consumer debt — including money owed on credit cards, student and auto loans — reached $4.37 trillion in September 2021, according to the Federal Reserve. If you’re carrying balances on high-interest credit cards, paying them off should be a priority. Having a pay-off strategy can help you stay on track toward becoming debt free.

Create a Payment Strategy
Pay off the card with the highest interest rate or the largest balance. Pay as much as you can toward one card, while paying the minimum on your other cards. When the first card is paid off, put the same amount toward the card with the next highest rate or biggest balance.

Another strategy is to pay off cards with low balances first. Eliminating several small balances may give you a psychological boost and help you continue the momentum with your higher balance cards.

Consolidate Debt
A debt consolidation loan allows you to pay off your cards and have a single monthly payment, often at a lower interest rate.

Seek Credit Counselling
Your financial professional is able to help guide your through this process. Also, nonprofit credit counseling agencies can help you eliminate debt and teach you good financial skills.


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Registered Representative offering securities through Cetera Advisor Networks LLC, member FINRA/SIPC, a broker/dealer and a registered investment adviser. Cetera is under separate ownership from any other named entity.
Advisory Services and Financial Planning offered through Vicus Capital, Inc., a Federally Registered Investment Advisor.
For a comprehensive review of your personal situation, always consult with a tax or legal advisor.  Neither Cetera Advisor Networks LLC nor any of its representatives may give legal or tax advice.
Schwartz Financial Associates, Inc and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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