Tips for a 36-year-old with $11,000 debt and no savings to improve their financial situation.

From Yahoo Finance: 2025-04-20 06:29:00

A 36-year-old with $11,000 in debt and no savings is seeking advice on how to improve their financial situation. Despite a monthly income of $3,800, including side gigs, the challenge seems daunting, but recovery is possible. The average non-mortgage debt balance in the U.S. is $27,976, but with a clear strategy, this debt can be managed. Building a budget and emergency fund, tackling debt with methods like Avalanche or Snowball, and increasing savings and income are key steps towards financial freedom. Taking small steps can lead to big progress in achieving financial goals.



Read more at Yahoo Finance: I’m 36 with $11,000 in debt and no savings. I only make $3,000 per month plus an additional $800 through side gigs. How can I turn things around?