subject: Paying Off Credit Card Debt | Eliminate Debt [print this page] Paying Off Credit Card Debt | Eliminate Debt
Carrying a credit card balance is something that haunts millions of people every month when the bill arrives in the mail. You open it to see the money you spent last year on a big shopping spree, and your still paying on it today
If you don't face this issue now, you will be paying for it at the same time you are enjoying retirement! Don't laugh, it could happen. If you continue to charge up debt without paying it off each month, you could be spending your golden years working to pay off debt you incurred 20 years earlier.
Take an inventory of your credit card debt and start to pay off the balances one at a time. Do not ignore the issue! You will never get them paid off if you don't start now. Putting it off will only compile the problem and make it worse. Don't wake up every morning with the concerns of credit card debt. It can be conquered. You just have to take the first step.
Cut your existing cards into small pieces. Stop using them immediately. Paying off a few hundred dollars and charging it back up will not help the cause. You must change your way of thinking now, before you reach the point of no return. Compulsive use of credit cards has been identified as an addiction. Think about it. If you can't help yourself from doing it, it is an addiction.
Start paying the lowest balance first. Add any extra money you have to the first card. Pay it off and then go to the next card. Try not to use a home equity loan or a refinance of your home to pay off credit cards. Many people do this and then go right back out and charge up the paid off cards. Bad, Bad, Bad!
Take paying off your credit cards seriously. Having too much debt can hurt your credit score and can stay with you for some time. Living without credit card debt is the life you should want to live. You have to look at your current situation and make the decision to put an end to it now, not tomorrow
