img
img
MyMoneyHelp home
Sign up for our newsletter!
Name:
Email:

corner cor cor
cor
MyMoneyHelp
Credit Reports
Personal Loans
Mortgages
Insurance
Debt Help
Credit Cards
Banking
Education Center
cor
cor cor co
corner cor cor
cor
Education Center
Banking
Credit Cards
Credit Reports
Debt Help
Insurance
Mortgages
Personal Loans
Glossary
cor
cor cor co
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit card debt
Digging Out of Credit Card Debt

While most people have owed money on their credit cards at some time or another, the degree to which we all get into trouble with credit card debt varies immensely from person to person.

In recent years, more and more people have taken out credit cards in order to bounce credit card debts from one card to another, and when this happens it’s easy to lose track of just how much you owe overall.

If you have credit card debt and you know it’s getting to be too much to handle, take the time to do something about it before your credit card debt gets the better of you. The first rule to remember is that it’s never too late to sit down and start sorting your debts out; in fact the sooner you do it, the faster you will be able to get yourself back in control.

Here are some pointers for getting back on track and freeing yourself from credit card debt:

1. Find out exactly how much credit card debt you owe.

You would be surprised how many people stop looking at their credit card statements when they start to realize they are in trouble. Yet sticking your head in the sand is the worst thing you can do if you really want to get on top of your credit card debt.

Seeing accurate figures written down on paper can be a frightening experience when you finally confront your credit card debt, but it’s also what most people need to jolt them into doing something about it.

2. Take bold steps to stop the problem from getting worse.

If you really want to free yourself from credit card debt, it’s not good enough to simply stop adding to that debt every month. You need to take away temptation as well, and a good way of doing this is to cut up your cards altogether.

If you’d rather keep them, then you can always give them to a trusted friend to hang onto for you, or if you trust yourself enough (and you need to be honest with yourself here) you can simply lock them away in a safe place instead of keeping them in your wallet or purse all the time. You should also figure out whether you could reduce your credit card debt by moving your balances around to take advantage of 0% balance transfer deals. This can give you some extra breathing space to start reducing your credit card debt while putting a hold on accumulating any more interest.

3. Figure out an accurate budget to spend less.

You’d be surprised how much money you can waste over the course of a week or month simply by not keeping tabs on your spending habits. Keep an accurate record of everything you buy for the next week or two and then look at ways of reducing your spending. Make sure you put all that saved cash to good use by paying off a chunk of your credit card debt with it at the end of the month.

4. Come up with ways to earn more.

There are plenty of ways to bring in more cash to help pay off your credit card debt; all you need to do is find the ones that will work for you. Perhaps you could do some overtime at work or get rid of some unwanted possessions by selling them on eBay. You might even start up a part time venture that could pay your credit card debt off even faster.

Whatever you end up doing, it’s essential that you take some determined steps towards paying off your credit card debt. If you don’t, the size of your credit card debt will only grow and lead to even more problems. Take control of it now, and you’ll be in a much better position in the future.

Compare top credit card providers

 
 
 
 
 
 
 
banner

 
 
© MyMoneyHelp.com. All Rights Reserved.    Sitemap | Newsletter | About | Contact | Terms of Use | Privacy | Online Coupon Codes

Valid XHTML 1.0 Transitional

img