Have you recently decided to eliminate credit card debt from your personal finances? Although it may seem like a lofty idea, you should know that it is definitely an achievable goal. You just have to come up with a game plan to will get you where you want to go. I am certain that once you’ve eliminated credit card debt from your life, you will find yourself in a while new world of personal finance.
One of the first things you have to do to eliminate credit card debt is to stop your debt from growing. Make a determination right now that you will never use credit cards again. I know that some folks say that it’s okay to use credit cards if you’re going to pay them off in full each month. The problem is, though, that you haven’t been paying them off in full; that’s why you have credit card debt. You can always revisit the idea of using credit cards responsibly when you’ve eliminated your debt.
I’ve found that one of the best things I can do to discourage the use of our credit cards is to stop carrying my cards with me. It’s just too easy to succumb to a “good deal” with the idea that I will pay for my purchases before the credit card statement comes. It’s just better to leave the card where it can’t do any damage.
For those of you who are truly serious about getting rid of your credit card debt forever, the best way to keep from piling on more debt is to close your accounts. You can call your credit card company and close your account to future purchases. Now you’ll know that the only movement your account will be making will be towards a zero balance.
Finally, the strongest step you can take towards eliminating credit card debt from your life is to make paying your current debts off a priority. Start by drafting a budget and including debt payments in your budget. Don’t just pay the minimum payments required by your card company, though. Really push yourself to pay down as much debt as you can each month. Once you get the ball rolling, you’ll be surprised how excited you’ll get and how much easier it will be to find extra money to send to your debtors each month.
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Two words to go along with this–willingness and motivation. if you are not “willing” and “motivated” to solve your credit card debt, it will never happen.
And to reiterate one more point…If you can’t pay it off by the end of the month, then don’t buy it!!
If you can live by this, you’ll be just fine…as far as not increasing your debt
AGREED! We finally paid off our credit card this month and all I can say is WOOHOO. It was at $10,000 in April 2008, and today it’s 0$! WOOT!!
Anyway, nice writing, keep it up and come over to my site to see how I did it… Thanks!
If you do use a credit card for purchases, make sure you have the money to pay the bill in full when the credit card statement comes.