In this Blog Series Phil is answering questions that have been submitted by readers.

Today’s question is “How can I reduce debt?”

Phil shares three key points:

1. Create a plan by firstly identifying all of your debts

2. Identify the most important debt to pay off first (not the one you think)

3. Use Phil’s compound debt repayment strategy

You can also learn a more detailed approach to debt repayment in Phil’s book Becoming Money Wise, get your copy at http://www.becomingmoneywise.com.

You can submit your questions for Phil by replying to this post or by registering for your free gift at http://philstrong.com/freegift/

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