Tackle high-interest credit card debtWith credit card debt topping $1 trillion for the first time this year — and average interest rates over 21% — Boneparth said consumers should focus on paying off high-interest credit card debt before they even think about investing.
If your credit card debt carries an interest rate of 15% or more, "get rid of it as soon as possible," he said.
Because of that, tackling high-interest credit card debt should be first and foremost on your plan of action, Boneparth said.
In addition to paying down credit card debt, you should also examine your spending habits.
Asking yourself why you're amassing credit card debt and whether you can really afford to do so can help improve your financial behavior.
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you've, Douglas Boneparth, CNBC's Frank Holland, Boneparth, you'll
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