It is so easy for people to use credit cards to purchase items. That’s how so many folks end up with a lot of that kind of debt.
Pittsfield, MA -- (SBWIRE) -- 03/01/2013 -- Credit-yogi.com would like to offer some tips on how to eliminate credit card debt, including:
- Use Cash
- Create a Budget
- Find some Extra Funds
- Schedule Payment Reminders
Stop Paying with Cards
This is the simplest way to address how to avoid credit card debt altogether: Use cold, hard cash to buy necessities. It isn’t as easy as it sounds, but it can be done. To forego the interest one pays on credit cards, keeping what many mothers refer to as “pin money” handy for grocery pick-ups or other small purchases through the week. The items become one’s property and one does not have to pay more for them later as he would if using charge cards.
Devise a Feasible Budget
Budgeting can be a little scary. Start small. Estimate how much will be necessary to keep food in the house and gas in the vehicle for one week. Keep that amount available. To deal with how to eliminate credit card debt, get the credit card statements together and address the one with either the highest interest rate or the most amount owed first. On a calendar, choose the date the first payment will be made and go from there. Soon, credit card debt will disappear.
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Obtain Funds for Credit Card Payment
Often, folks find themselves without enough money to concentrate on how to avoid credit card debt. It’s hard to purchase everything with cash if there simply isn’t any to be had. Ask for help. Friends or family members will usually provide a small loan to help with elimination of debt. Borrowing against a cash-valued life insurance policy and keeping the cash on hand can also solve that problem. Selling craft items online is a great source of extra money. No matter where the funds originate, be sure to apply them only to credit card debt payment.
Place Payment Reminders Everywhere
A good solution to how to eliminate credit card debt is to put payment reminders throughout the house. Use the computer to remember the payment schedule. Place “sticky notes” in the hallways, on the bathroom mirror, near the refrigerator, wherever they will be seen. Truthfully, the only way to get rid of any kind of debt is to pay it off, and that can only be done by making scheduled payments each month.
Credit-yogi.com is a well-established consumer resource website located in Pittsfield, Massachusetts that is backed by over 260,000 professionals who can address issues of finance or law at no cost. For a free initial consultation, call 866-964-9644.