Imagine drowning in credit card debt ? It’s scary and I totally get it because I’ve had family members in that situation before and that taught me a huge lesson!
But if this is your situation right now, don’t worry, you’ll get through it and the fact that you’re watching this video right now, you’re already on the right path!
So if you’re ready to rewrite your financial story and get a peace of mind, in this video, we will be exploring practical steps on how you can effectively pay off your credit card debt !
KEY TAKEAWAYS
You may consider these tips to manage and reduce your credit card debt :
1. Choose a credit card payment strategy : Some methods to consider would be the debt snowball method, debt avalanche, and automating your payments.
2. Pay more than your minimum payment : Pay as much as you can each month because any amount will help to reduce the amount of compounded interest you’ll have to pay.
3. Consolidate or transfer your credit card debt : With debt consolidation, you can roll all those pesky high-interest debts into one loan with a lower overall interest rate.
4. Work with creditors to lower your interest rate : You can try to negotiate for a lower credit card rate. Get on the phone with a creditor, there’s a decent chance you could get a better rate.
