Americans are in debt.
The average person has more than $92,000 in debt, according to the Experian 2020 Consumer Credit Review.
The most important step to paying off your obligations will be deciding which loans you need to tackle first, according to financial expert and podcast host Suze Orman.
You should start by categorizing your loans as secured or unsecured, said Orman.
Check out this video to see how the bestselling author recommends you determine which type of debt you have and what you need to do after compiling your list.
More from Invest in You:
How much you can expect to get from Social Security if you make $40,000 a year
The real ‘Catch Me If You Can’ con artist says this classic scam is making a comeback
SIGN UP: Money 101 is an 8-week learning course to financial freedom, delivered weekly to your inbox.
Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.