One Simple Way to Pay Down Debt Faster When You’re Married
When you decide to tie the knot, you bring a lot into your marriage. You bring more than just your love; you also bring your dreams, your income and your assets.
Unfortunately, many people also bring a significant amount debt into their loving union.
For better and for worse, right?
It’s OK. Take a deep breath, hold each other’s hands and repeat after me. We will pay down this debt — together!
As a Penny Hoarder reader, you probably know that we have a great solution for you. It’s true. We do.
Here’s one simple way to pay down debt faster when you’re married:
Let Fiona Find a Loan to Help You Out
Once you walked down the aisle, you joined your debt together. Whether it’s medical bills, a car loan or even bad credit card debt, it’s time to tackle it together. One of the best ways to pay down debt as a married couple is to consolidate it all into one low-interest loan.
A good resource is Fiona, a search engine for financial services that can help match you with the right personal loan to meet your needs.
Fiona searches the top online lenders to match you with a personalized loan offer in less than 60 seconds. If your credit score is at least 620, its platform can help you borrow up to $100,000 (no collateral needed) with fixed rates starting at 4.99% and terms from 24 to 84 months.
As a married couple, you may have an even better chance to get a great loan if one of you has an excellent credit score.
Chances are you’re paying a lot more interest on your old debt. By consolidating your debt through Fiona, you’ll eliminate having multiple payments to worry about. With just one payment and low interest, you can make more progress each month and have your debt paid down much more quickly and start working on that “for richer” part of your vows.
Now that’s wedded bliss, right?
Tyler Omoth is a senior writer at The Penny Hoarder who loves soaking up the sun and finding creative ways to help others. Catch him on Twitter at @Tyomoth.