Finance & Investment Business Self Improvement Paying Off Your Credit Cards
The first tip and the one you have probably heard the most is that you must pay more than your monthly minimum to get your cards paid off. This is absolutely true. If you just pay the minimum payment on your card it will take decades to pay them off. Try to at least double the payment so that you are actually paying principal off instead of just interest.
Next, transfer balances to 0% interest cards. Many credit card companies will give you promotional rates of 0% interest when you transfer card balances over to them. This will save you a huge amount in interest payments. Be careful not to charge up the new card or the card you transferred the balance from. Cancel your old credit card or at least cut it up to keep from being tempted.
If you have a home and have equity, get a home equity loan to pay off debt. If you have equity in your home cash it out and pay off that debt. The interest you will pay on the home equity loan is much less than you will pay on your credit cards. This can save you hundreds of dollars a month, depending on your debt.
My last tip and the most important one is to not make nay new charges. Take all of your cards out of your wallet and leave them at home. If necessary, cut them up. This will keep you from making those impulse credit card purchases that will keep you from paying them off.
Overall the most important thing to have when trying to pay down credit cards is discipline and patience. make yourself a plan, follow these simple tips and have patience. Eventually you will get yourself out of debt.
Find the best accountants at the authors website on accounting and finances.
Related Tags: debt, finances, credit cards, accounting, accountants
Your Article Search Directory : Find in Articles
Recent articles in this category:
- The Resurgence of Fred Perry Clothing
Summer might long be over and Wimbledon may be a distant memory, however the fashion is a year round - Uncovering Men's Tank Tops
I don't know a thing about you, but I'll bet that you have worn a tank top. Tank tops have also been - Make Use of Silk Scarves to Take Good Care of Your Skin
In the event you are new about silk scarves, you could never read about this particular feature of s - Just For Men Scarves - the Preference For Guys in the Vogue Domain
If you are not certain what style of present you could provide for men, maybe you can consider men s - Think Black Friday Shopping is Beyond Your Budget?
Moms who are juggling the bills and still trying to provide the perfect holiday gift to loved ones a - How to Make Conscious Shopping Choices
Many people have heard the phrase "voting with your dollars" and they understand that it means your - Silk Scarves - Unique Present Approach in Xmas Seasons
The most prevalent silk add-on is scarves, and many focus is presented on inspired designing on thes - Benefits of an Aloe Vera Shampoo
A lot of people are not aware of the specific benefits that using an aloe vera shampoo can do to the - How Effective is the Power of Your Subconscious Mind?
Most people are bombarded with this thought whenever they feel weak and wish to affect certain chang - Silk Scarf - the Record For Human Being in the Style History
Throughout the 19th and 20th centuries the worldwide recognition of silk scarves developed dramatica
Most viewed articles in this category:
- Surf and Turf: the Race Track
Surf and Turf: The Race TrackOne of the favorite places for The G to hang out at, especially in Summ - Are You Looking For Cholesterol Drugs Without Side Effect?
High cholesterol level is probably one of the widely spread complication among Americans. Almost for - Friday the 13th could be a lucky day?
Friday the 13th sounds unlucky ? Traditional superstition ? And a lot of people dislike it and beli - Don't Judge A Man
Our world is full of bad tongues, fault-finders, gossipers, mockers, and insulters but do these grou - When Personalized Gifts Make a Difference
Finding the right gifts for a particular occasion is always a challenging task. Sometimes it is nic - Managing My Resistance: Learning To Flow With What Life Offers
One of the things that interests me most about conflict is the tendency to resist it and the ways in - What Are Horoscopes Based On?
If you do not know much about astrology, you may wonder what are horoscopes based on and how astrolo - 7 Dumbest Relationship Mistakes Smart People Make
We often find ourselves amid the wreckage of a love gone wrong, wringing our hands and asking, "Why - Motivation as the heart of self improvement
You should be able to find several indispensable facts about Motivation in the following paragraphs - Is Complete Abstinence from Use of Paychoactive Substances Necessary for Recovery?
Can a sober alcoholic in recovery who has no history of abuse of marijuana, use marijuana without