Strategies to Get Out of Credit Card Debt Fast & Stay Motivated
Wednesday, 6 March 2024, 17:00
Strategies I Used to Get Out of Credit Card Debt
When I realized I had $9,000 worth of credit card debt a few years ago, my first instinct was to cut expenses. I shaved a few hundred dollars off my monthly budget by canceling a few streaming services and subscriptions and cutting back on restaurant spending.
Key Points:
- Saved on big expenses like rent, car payment, utilities, and healthcare costs.
- Doubled down on freelance work and side hustles to pay off debt quickly.
- Utilized the debt snowball method to focus on paying off the card with the smallest balance.
1. Cancel subscriptions and cut back on non-essential spending.2. Work extra hours to increase income.3. Strategically pay off credit cards with the debt snowball method.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.