Say Goodbye to Credit Card Debt

Say Goodbye to Credit Card Debt

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1. Make Frequent Small Payments- Even  if its just $5 it will add up over time. That way at the start of the next moth when your bill is due, it'll be a lot less overwhelming. Making multiple payments over time will greatly reduce your total balance,

2. Target one credit card at a time- When you have a lot of revolving debt, it can be very overwhelming. I suggest tackling one card at a time until you handle that debt. That doesn't mean you should completely ignore one card over the other. Focus the bulk of your spending efforts on your smallest dent and then work your way up. If you focus on one card at a time, you can significantly reduce debt and pay off debt quickly.

3. Pay more than the Minimum- Do some quickness's calculations to consider paying more than the minimum. Try at all costs to pay in full monthly.  Try doubling your monthly contributions at first and see how it feels. If you pay the minimum only on your credit card bill, you can end up paying a significant amount over time in interest. Depending on your interest rate, this can really add up over time.
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4. Consider a Balance Transfer-This is a nifty little trick to buy some time. If you're trapped under a high APR then this would be the method to go. Many cards out there offer 18-20 month 0% APR rates. Best of all they don't have balance transfer fees either. Transfer the balance to a card with 0% and you can save yourself a lot of money over time. 

5. Pay in cash- Use cash or debit when available . That's tangible money that you actually have it on you. It's too easy to whip out a credit card these days no matter when you shop. Take the time to go to an ATM, take out the cash you need and then budget your spending based on cash on hand. You really don't realize how much money you spend sometimes when you swipe your card multiple times. If you really want to significantly reduce the amount of credit card debt, you have to quite simply -STOP USING YOUR CREDIT CARD. Always  choose cash first. That way you know how much cash you have on hand and therefore how much you can and are able to spend.
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6. Cut up your Credit Cards- Once you've paid off some debt its really easy to load your card back up with more purchases. DON'T DO THIS! instead, cut up that card. You really don't need it! After all of your hard work the one thing you don't want to do is get back in more debt.



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