Credit Cards
Stop adding to the debt
Give yourself a weekly cash allowance, once you have spent the cash you are out for the rest of the week....SO BE CAREFUL ABOUT HOW AND WHERE YOU SPEND IT
Leave your credit cards at HOME....out of sight out of mind
Have only a couple of cards with good accounts (having too many hurts your credit)
Lower Your Interest Rate
Check with the card company and see if you can work out a deal on a better rate. If you have a good credit score you can usually negotiate a better rate.
Transfer balances with high interest rate to a lower interest rate card and look for offers with low introductory rate that will help you get your debt paid off (always read the fine print..ie. hidden fees or cost). ALSO REMEMBER DON'T ADD TO THE DEBT JUST BECAUSE THE INTEREST RATE IS LOWER, THE PURPOSE IS TO GET RID OF THE DEBT.
Have a PLAN
Make a list of all the debt...with the existing balance, minimum payment and interest rate.
Determine which card or debt to pay off first...usually the high interest rate is the one you need to address first.
Pay as much money on the one that you need to pay off first and pay the minimum on the others.
Do your best to payoff then once that card is paid off, take the same amount you've been paying on that card and add it to the minimum payment of the next card. Continue this and you will soon be debt free! The secret here is NO MORE CHARGING!
Keep a card for emergencies only, and do not charge on it unless it is an EMERGENCY!
If you will do this you will soon be able to put away or invest that same amount, because you are now acustom to not having that amount of money.....so PAY YOURSELF....SAVE...INVEST
NOW YOU MIGHT WANT TO CONSIDER THAT YOUR BEST BET IS TO BUYA HOME OR IF YOU OWN YOUR HOME MAYBE MOVING UP.
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