Being an entrepreneur takes extreme determination and bold decisions. These same traits can be critical weapons in winning the battle against debt.
If you’re an entrepreneur who’s worried about debt — whether it’s $5,000 or upward of $100,000 — now is the time to act to cut back. These four tips from financial experts and entrepreneurs offer concrete ways to slash personal and business debt and emerge stronger.
1. Treat debt like a wound and act quickly
The best way to deal with debt is to confront it as soon as you begin to feel it weighing on your bottom line.
“You’ve got to stop the bleeding,” said Jeff Rose, certified financial planner and CEO of Alliance Wealth Management. “Find the things that you’re paying for that you may not need.”
By Marguerite Ward – March 28, 2016.