How to Get Out of Debt in the New Year

Resolve to get your finances in better shape. Figuring out how to get out of debt is a great first step toward reaching financial security. Find out how here.

Jan 5, 2014 at 10:35AM

The New Year has begun, and millions of Americans have resolved to get their finances in better shape for 2014. But if you're trapped under a mountain of debt, it's hard to conceive of building up a big investment portfolio until you pay off everything you owe.

In the following video, Dan Caplinger, The Motley Fool's director of investment planning, gives some tips on how to get out of debt in 2014. Dan points out that the first step is figuring out how much you owe, which you can find out by getting a copy of your free credit report from Then, find out how much in interest you pay on each of your debts. Dan notes that typically, credit cards will have the highest rates, followed by mortgages and student loans. Finally, Dan suggests talking to credit card companies about lowering your rates. With 0% interest rates from Bank of America (NYSE:BAC), Citigroup (NYSE:C), and American Express (NYSE:AXP) among others, there's enough competition in credit cards to give you some leverage. Dan concludes that if you want to get out of debt in 2014, you can -- just by following these simple rules.

Getting out of debt is your first step toward financial independence
Once you've figured out how to get out of debt, your next step is to start regularly investing in the stock market. In our brand-new special report, "Your Essential Guide to Start Investing Today," The Motley Fool's personal-finance experts show you why investing is so important and what you need to do to get started. Click here to get your copy today -- it's absolutely free.

Fool contributor Dan Caplinger owns warrants on Bank of America. The Motley Fool recommends American Express and Bank of America and owns shares of Bank of America and Citigroup. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

4 in 5 Americans Are Ignoring Buffett's Warning

Don't be one of them.

Jun 12, 2015 at 5:01PM

Admitting fear is difficult.

So you can imagine how shocked I was to find out Warren Buffett recently told a select number of investors about the cutting-edge technology that's keeping him awake at night.

This past May, The Motley Fool sent 8 of its best stock analysts to Omaha, Nebraska to attend the Berkshire Hathaway annual shareholder meeting. CEO Warren Buffett and Vice Chairman Charlie Munger fielded questions for nearly 6 hours.
The catch was: Attendees weren't allowed to record any of it. No audio. No video. 

Our team of analysts wrote down every single word Buffett and Munger uttered. Over 16,000 words. But only two words stood out to me as I read the detailed transcript of the event: "Real threat."

That's how Buffett responded when asked about this emerging market that is already expected to be worth more than $2 trillion in the U.S. alone. Google has already put some of its best engineers behind the technology powering this trend. 

The amazing thing is, while Buffett may be nervous, the rest of us can invest in this new industry BEFORE the old money realizes what hit them.

KPMG advises we're "on the cusp of revolutionary change" coming much "sooner than you think."

Even one legendary MIT professor had to recant his position that the technology was "beyond the capability of computer science." (He recently confessed to The Wall Street Journal that he's now a believer and amazed "how quickly this technology caught on.")

Yet according to one J.D. Power and Associates survey, only 1 in 5 Americans are even interested in this technology, much less ready to invest in it. Needless to say, you haven't missed your window of opportunity. 

Think about how many amazing technologies you've watched soar to new heights while you kick yourself thinking, "I knew about that technology before everyone was talking about it, but I just sat on my hands." 

Don't let that happen again. This time, it should be your family telling you, "I can't believe you knew about and invested in that technology so early on."

That's why I hope you take just a few minutes to access the exclusive research our team of analysts has put together on this industry and the one stock positioned to capitalize on this major shift.

Click here to learn about this incredible technology before Buffett stops being scared and starts buying!

David Hanson owns shares of Berkshire Hathaway and American Express. The Motley Fool recommends and owns shares of Berkshire Hathaway, Google, and Coca-Cola.We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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