Does your heart fill with dread when your credit card bill comes? You’re certainly not alone, in fact, spending on credit is at an all-time high. If your credit card balances are high, it’s time to tackle the problem and get on the road to paying off credit card debt. Here are 10 super easy tips to pay off debt quickly:

 

Stop using your cards

This may seem overly simple, but not using your cards while you’re paying them off means your balances will go down.

Stop paying interest

Credit card companies make their money by charging fees and interest. Don’t make purchases on your cards you can’t pay off within 30 days.

Start a debt repayment plan

Skip your daily trip to Starbucks and use that money to pay off your credit cards. By adjusting your budget to move extra money and pay off debt, your balances will drop quickly.

Cut your expenses

Take a look at where your money is going and see what you really need and what you could do without. Use coupon apps to save money at the grocery store, keep your thermostat turned up slightly to save on energy costs and shop around for insurance and other necessary services to make sure you’re getting the best deal.

Make extra money

Do you have a house full of stuff? Sell it! Or maybe get a second job where you use that money just to pay off your debt.

Look at your interest rates

If you have cards with high-interest rates, contact your cardholder and ask if they will reduce it. You should also look at transferring balances to cards with lower rates to reduce your credit card debt.

Organize your debt

List all your debt and the interest rates then systematically pay off debts with the highest interest rates first.

Consolidate your debt

A debt consolidation company could help you pool all your debt into one payment. Just be careful that the interest rates on these loans aren’t more than your rates on your cards. We offer personal installment loans in Utah, Idaho, and Wisconsin with easy terms and great rates.

Ask for debt reduction

Some credit companies will reduce your debt if you ask them, especially if you’re in serious financial trouble.

Don’t give up

It’s easy to accumulate debt but harder to get rid of it. Don’t be too hard on yourself if you slip up. Just keep working on paying off credit card debt and try your hardest to stay on track.

These tips to pay off debt are a great start on your journey toward financial stability. When you’re ready to take control of your finances, give us a call and let us show you how easy financial freedom is.