debt elimination

Debt elimination is the process of paying off borrowed money, such as loans or credit card balances, completely. It involves creating a plan to systematically reduce what you owe by prioritizing payments, managing expenses, and possibly increasing income. The goal is to become debt-free, which can reduce financial stress and improve long-term stability. Strategies often include budgeting, negotiating payment terms, or using extra funds to accelerate repayment. Successfully eliminating debt requires discipline and consistent effort, ultimately freeing you from ongoing payment obligations and enabling better financial flexibility.