I have a love/hate relationship with Credit cards!
OK, so I really love my credit cards, when I want to buy something that I can't afford ! But then I hate it when, I max them out and have to start all over again! What if you don't use your credit card, what if you could just save the money and buy it with cash? Wouldn't that be marvelous? It is possible! Do you want to pay off your credit cards, but it seems like this impossible daunting task that will never happen? Well My mom was taking this debt class and shared some awesome secrets with me about credit cards. First of all stop using them , I know its very very very hard but you can do it, I know its something that i need to work on too! Then, what you do, is start off by paying your smallest credit card off first. Start by paying $50.00 a month on that first card, once that first card is payed off ,take that $50.00 plus the amount you were already paying monthly on your second card and start paying off that one too! For example if you were paying $15.00 a month on your second card, apply that $50.00 a month plus your minimum payment, so you would be paying $65.00 a month on your second card. Than once that's payed off, take that $65.00 and apply it to your next card with that cards minimum payment. So the third card you would be paying $80.00 and so on. Its great because it totally works out well, you would be able to afford it because its what you were paying in the first place. Once your credit cards are payed off, don't stop there apply that amount to your car payments and then finally your mortgage What ever debts you have you can pay them off. I never thought about this and once my mom told me what she had learned I just felt so relieved that there is a way to pay off debts and if i can do it so can you! We have to get a hold of our debts especially credit cards those things gather up interest like crazy, if you are only making monthly payments you really aren't paying the debt, you are just paying interest! I know it's cruel and evil ! Well that's my budget saving tip for the day! Please leave comments , I would love yo hear other ways to manage credit card debt or just feed back on how this is working for you !Thanks!