Simple but foolproof ways to rid of credit card debt

Credit card debt must be paid ASAP to avoid interest and charges. Read on and find out how.

12:03 19 April 2013

Millions of people from around the world have credit card debts but very few are really working very hard to ensure that these are paid off on time. Because of this, they have to pay additional fees and charges for late payment.

Here’s how you can easily pay off your credit card debts in no time:

• First, take out all your credit cards and list down what you owe from each one. Also, list down their interest rate. You would want to pay off the one that have the highest interest rate for obvious reasons.

So, starting on your next pay day, put as much money on this particular credit card until it’s fully paid. Do the same for the next credit card until you pay off everything.

• Raise more money. The quickest way to pay off your debt is to pay as much money as possible. How can I make this happen when I barely make both ends meet?

That’s a good question but as they say, when there’s a will, there’s a way. Some ideas are the following: you can get an extra job, you can stop saving for your emergency fund until you’re debt-less, you can cut your spending, etc.

• Avoid using your credit card as much as possible. It’s true; it’s easier to accumulate credit card debt than to pay them off. So, resist the temptation of using them especially if the purchase isn’t necessary.