Online Money Advice

I get asked a lot by people who are looking to get their finances on the straight and narrow for tips on how to start paying off credit card debt. So I thought it was about time I shared some of these tips with everyone not just those that ask me outright.

Tip number one to paying off credit card debt is to stop using them. Yes tip number one really is that easy, you have to know that by continuing to use your credit cards when you owe money on them is just increasing what you owe and makes your debt bigger. Stating the obvious I know but so many people fail to realize that when they are starting with paying off credit card debt is by stopping spending on the cards means that they are easier to pay off.

Tip number two to paying off credit card debt is to cut back on activities that cost money. Everyone has hobbies or regular events that they attend that normally cost. For example bowling teams, “But that only costs $14 a week!” that is very true however then there is practice so you have to rent a lane to get better, the cost of a new bowling ball should yours become damaged can prove costly. Simple things like playing in just the team, doesn’t matter if you don’t play as well the fact is that you are reducing your debt by reducing your activities.

Tip number three in paying off credit card debt is its not what you give it is the fact that you have given that matters. Yes the original saying is all about receiving but think about it this way, you buy your brothers and sisters birthday presents and in my house it was always that you spent $25 on someone for their birthday, but one year my sister was having a few troubles with work and she got me a $2.50 book from a second hand book store (I know it was that much because she left the tag on, sisters you have to love them). However it was the fact that she spent the time to go find the book that was the perfect gift that means more to me had she got the book for $100! (make sense now)

So these are just a few of the tips I tell people when they are looking into paying off credit card debt. Believe it or not as boring as some people think they are, they work and that is what you should be looking for methods that work!

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