Understanding your debt is the first step toward gaining control of your financial future. At Primerica, we recognize the burden that debt can impose, but we also believe in the power of informed decision-making and disciplined planning to overcome it. Before delving into strategies for debt reduction, it's essential to distinguish between secured and unsecured debt. Secured debt, such as mortgages or auto loans, is backed by assets like your home or car, while unsecured debt, including credit cards and personal loans, lacks collateral. Moreover, debt can be categorized as fixed, with consistent monthly payments like mortgages, or revolving, where minimum payments fluctuate based on total debt, as with credit cards. While certain debts, like mortgages or student loans, may be considered beneficial investments, paying them off promptly can significantly enhance your financial outlook in the long run. Let Primerica guide you toward a tailored debt solution strategy that aligns with your goals, empowering you to achieve financial freedom sooner rather than later.