We’ve see this advice before, haven’t we? The first step to getting out of credit card debt: stop using your card(s). About.com offers 7 tricks to stop using credit cards. But I wonder if anyone actually ever took action after reading this article? The thing is, the advice to stop using your credit cards is [...]
Let’s assume that you are frustrated with the way you are currently handling your money. have a debit card with > $20 balance. have an inkling that you’d like to change your ways. You might fit assumption (1) if you feel like you: spend too much money on x don’t save enough don’t invest enough [...]
The idea of paying off your credit card debt might seem like a monstrous undertaking. But like all things financial, it helps to simplify the problem in order to come up with a solution. If you can get through the following questions without feeling discouraged, then you might be ready to begin paying off your [...]
At least on some key things. While reading the Q+A from the Secret History Of The Credit Card I came upon the following question posed to Elizabeth Warren. Isn’t it really simplistic to say that credit cards, … if you will, … [are] pushing the bankruptcy rate higher and higher? Isn’t it America’s lifestyle? Isn’t [...]
Of all the topics I have touched on in this blog, I have the most experience with credit cards. And as I climb the final stage to being credit card debt free, I grown more interested in diving deeper into the world of credit cards. In addition to my personal experience with them, I am [...]
Our highest balance card is a non-promotional rate of 6.99% and the balance is over $10k. And although this is nothing to sneeze at, we have come a long way over the past year and have cut our credit card debt significantly. When we first got serious about paying down our credit cards, we found [...]
A couple of weeks ago I saw a ten dollar bill for the first time in months — I witnessed a friend pay a debt back to another friend. At that moment I realized how long it had been since I personally held a bill like that in my wallet. The ten actually looked strange [...]
A common instruction set for reducing credit card debt is to stop using the cards begin overpaying the minimum payment We were deep in credit card debt, with minimum payments totaling over $600. Step #1 is easier said than done. We’ve cut our balances down by more than half by overpaying the minimum balance. While [...]
I just received my copy of the 2010 Consumer Action Handbook. There is a supplemental booklet in the packet titled Saving and Investing. Within the booklet is a section titled Pay Off Credit Card or Other High Interest Debt: If you’ve got unpaid balances on several credit cards, you should first pay down the card [...]
Paying the minimum payment on your credit card each month through auto-debit is undoubtedly incredibly convenient. I should know because I employed this method on all eight of my cards for several years. Besides being convenient, setting up automatic minimum payments can easily be construed as the responsible thing to do — after all, you are [...]