Practical Tips for Paying Off
Credit Card Debt...Fast!

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.

  • List all of your credit card debt on paper
  • Arrange them from least to greatest amount owed
  • Pick your smallest balance to begin
  • Pay the most on the smallest balance and the minimum on the remainder of the cards
  • This creates a snowball that will have you debt free faster
  • Once one is paid off add what you were paying for the credit card you paid off plus the minimum balance on the next

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 reduced. 

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!

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