Paying off credit card debt -- did you know that the majority of Americans carry $16,000 on credit cards. Wow! Kind of scary and overwhelming. Fortunately you can chip away at it and make a dent in your debt amount.
Living debt free is just steps away!
This debt may come from medical expenses, dental expenses, or simply not earning enough money to make ends meet. It can also come from being scammed. Yes, there are credit card scams.
However you got into this debt, what matters now is that you get out of
it. Below you will find some useful tips to start eliminating the debt:
1. Save Money
The first step is to build your savings account. Why not put it towards your debt? Emergencies get us in trouble and we often have to throw it onto a credit cards. Having a little pad in your savings frees you up to begin paying your debt.
Put away a little each week, until you reach your goal. I
recommend between $800-$1000 minimum. Another option is to put away some of
your tax return for this purpose.
2. One Credit Card At A Time
Paying off your debt does not have to be overwhelming; follow these simple steps.
3. Earn Extra Money
This may mean taking on an extra job (example: paper route) to earn extra money to pay more on your debt.I have done numerous part-time jobs from home, including online survey sites or writing articles in order to pay off debt and save money.
4. Reduce Your Interest Rates
Call your credit card companies and try to get the interest rates
I have had success with this before, You have a 50/50 chance that they will listen to your case and work something out. Sometimes companies are willing to negotiate a lower interest rate if you have been a customer for a while and pay your bill on time. Even if it does not work out, it is worth a try!
5. Lower Your Existing Bills
By lowering your existing bills you will find more cash for paying towards your credit cards. How do you do this?
Hopefully these tips will help you to be on the road to paying off credit card debt!