Easy Steps To Cut Your Credit Card Debt

People that have money generally do not use their credit cards excessively. If it is your goal to get out of this bad cycle that you are in then check out these ten simple ways to cut down and start saving money.

Pay off the card with the lowest balance

If you start of with the credit card that has the lowest balance, it will be less daunting and once you have paid off one card you will be motivated to go on to the next, then the next and before you know it, they will all be paid and the nightmares will end.

Three months of paying cash

It just makes sense that if you do not have a credit card with you when you go into a shop, you cannot spend more than what you have in your wallet. If you only use cash for three months, your attitude towards money and your buying habits will eventually change.

Change to a lower rate

Shop around to find a company that can switch the rate of interest to a lower one. This will help you to pay off the debt without feeling as though you are being swallowed up in interest.

Have only two or three credit cards

There is no reason in the world why anyone would need more than two or three credit cards. Pay off the others and only use the ones that you have for things that you just cannot afford to pay cash for.

Lose one of your vices

Everyone is guilty of spending money on things that they know they should not, just chose one thing and avoid buying any of those items for a year. You will be amazed at how much you will save.

Earn some extra cash

Get yourself a weekend job or something that is part time to earn some extra cash and then use that money to pay off your credit cards instead of going out shopping for thing you do not really need.

Make payments on time

Credit card companies are very strict with late charges. The later you pay, the more you will end up paying. Organize a debit order for the payment to go off each month to avoid these extra charges.

Delay gratification

Instead of rushing out to buy a large item, take forty-eight hours to really think about it before you go out and make an impulsive purchase. Try to only buy things that you really do need.

Communicate with your partner

Be open and honest with your partner about how many credit cards and debt you have. Nothing kills a marriage faster than secrets regarding money.

Change the way you live

You do not need to have the top brand names of everything in your entire home. Scale down on how many times you go out to eat at restaurants, how often you go shopping for new clothes and so forth. If you do not really need it - do not buy it!