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How to get out of credit card debt

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Are you spiraling out of control in debt?

 

Get out of the never ending spiral of Credit Card Debt by changing a few things. This lens will cover how to change your Credit to a positive experience instead of a seemingly never ending bad experience.

Get out of Credit Card debt quickly 

There is an answer to your problem.
Get rid of all of them!!!! Just kidding. You need to have at least one credit card.

Your first step is to Remove high-interest-rate credit cards from your wallet or purse to reduce the temptation to use them unnecessarily.

Evaluate your spending habits.
Do you really need that Starbucks latte everyday? That membership to Columbia House DVD's? The premium cable channels etc.?

Think about what you really need in life, and what is a luxury in life. If you really start to think about it, you would be surprised at how much you spend on lifes luxurys.

Eliminate the luxurys and stick to necesities and you will save yourself a couple hundred dollars a month right away. Use that money to pay your credit cards down. Create a realistic budget to pay off your credit card debt in the shortest time possible while not adding any more debt to it.

Here are the steps to take to get out of credit card debt. 

Step #1 Cut up your credit cards except for one to use for emergencies. Make sure you thow away the cut up pieces. If you save them you could still use them (online). Dangerous!!

Step#2 Do not cancel your credit cards, because your credit score will lower by several points if you do this. Just request a lower interest rate on the highest interest cards.

Step#3 Try to use cash for all your purchases, and only buy what you can afford.

Step#4 Pay off the credit card with the highest interest rate first.

Step#5 Take the money you saved from step 4 and use it to pay on the next debt and double your payment. Use the original regular payment and the new one.

Step#6 Continue your payments on the next debt by combining payments. As much as you can and then just keep doing that until all of the cards are paid off.

Find ways to make extra money at home! 

Home Business Reviews
Find legitimate work at home businesses to do at Home Business Reviews and use the extra money you make to pay off some of your debt!

Let me know your thoughts on Credit Card debt. 

If you like this lens, please comment and rate it.

dacks wrote...

you have a great lens betsuzie, hope to read more from you. I have just created a lens about startup business credit cards and debt consolidation hope you can drop by a message then

ReplyPosted December 16, 2008

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betsuzie

About betsuzie

Hi, My name is Elizabeth. I Work from home as an affiliate marketer. I live in Southern California and, I love to write about home businesses and how to make money working from home,I will be writing several lenses about that subject in the future. Looking forward to being a "Giant Squid" soon!
http://www.bethsfavortiesites.com
http://workathome-suziedav.blogspot.com

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