"I know that's really hard for a lot of people because of student loans, and the obvious debt that the average American racks up.
But when you have no debts and your income is all yours ... it puts you in a completely different spot financially."
For 35% of Americans, it's credit card debt, according to a January 2023 Bankrate survey.
As of last year, 43.5 million Americans had federal student loans, according to the U.S. Department of Education.
Take Jasmine Taylor, a 31-year-old who used a "cash stuffing" strategy to pay off $23,000 in student loans and $9,000 worth of medical and credit card debt in a year.
Persons:
Rachel Cruze, Jasmine Taylor, Taylor
Organizations:
CNBC, U.S . Department of Education, NAR