No matter how long you avoid opening the envelope which contains your credit card bill, you will still get annoyed.
It will not help you come out from the financial mess you are in at the moment.
The longer you do not pay, the higher the rate of interest will become, which is only going to increase the amount that you will need to pay.
You will only loose time and more money, if you are waiting for a miracle to happen which will make your creditors lower the amount of debt you owe to them.
The more you spend time in thinking how to eliminate credit card debt, the more your amount of repayment will increase.
And as the amount increases, you will surely loose hope and gain an even higher level of stress.
However, repaying your increasing bills could have been easier only if you had known better ways.
You must be wondering how to eliminate credit card debts.
Do not panic, you will come to know this shortly.
The very first thing you need to do is to gather all the bills you have received to date.
By doing so, you will know how many months have you been billed for.
This should not just consist of your credit card bills, but also all the other spending you have done on car loans, to the smallest things, such as your cup of coffee.
Now, you need to give some concern to the items you have listed so far.
What you have accomplished today, is due to all the spending on these.
You must prepare two different categories, which are "unimportant" and "imperative".
By the time you are done listing the items under these categories, you will have a fair ideal of where did you go wrong? Set your priorities and follow them as this is one way of how to eliminate credit card debt.
Also you will save money to pay the bills for the items you need to pay that are more important in each month.
These facts will be all black and white and easier for you to understand the situation better.
Take the list you have prepared as a manual to limit your self from spending extra amount on unimportant items.
Had you not spent unnecessarily, you would be having a fair amount of money to pay your credit card bills.
If you always wondered how to eliminate credit card debt, then you have the answer on the paper in the form of the list you have come up with.
If you have more than a single credit card, then you can use them more wisely by using one for the monthly debt and the other for small amounts.
You will feel extremely happy once you become successful in making yourself credit card 'free'.
Now you can help others by telling them how to eliminate credit card debt.
The outcome of this exercise certainly sounds good, but it can only be achieved if the person has the willpower to stick to the plan.
The Plan: 1) Identify ALL expenditures - Perhaps carry a small notepad for a month to write down incidental expenditures.
But make certain you write down ALL expenditures.
2) Categorize all expenditures - Place two columns on a sheet of paper and name column one: Necessities (Rent, Mortgage, Lights, Gas, etc.
,), then name column two: Non-Necessities (Soda Pops, candy bars, movies, etc.
,).
3) Identify all credit cards and their interest rates - Place highest "Interest Rates" first, not highest card owed.
4) If possible transfer high interest rate cards to low interest rate cards.
Important: Make sure there is no charges associated with a transfer that would make it a costly move.
5) Reduce The Debt - Reduce The Stress - Take all the money saved from the unnecessary spending in column two of your "Categorize all expenditures" list and apply it to the card with the highest interest rate until it is paid off.
Then do the same to the next card on your list, and so on...
Important Note: Do Not Charge Any New Debt During This Process! Final Note: If you call your creditors and explain your situation (perhaps there was a layoff or sudden loss of employment or etc.
), and let them know you are creating a refined budget to get things caught up.
Then ask them if they can help by suspending the interest rate on your card and removing some penalty charges.
You might be very surprised to find they are VERY helpful.
Perhaps not all will be helpful, but nothing lost by trying.
It will not help you come out from the financial mess you are in at the moment.
The longer you do not pay, the higher the rate of interest will become, which is only going to increase the amount that you will need to pay.
You will only loose time and more money, if you are waiting for a miracle to happen which will make your creditors lower the amount of debt you owe to them.
The more you spend time in thinking how to eliminate credit card debt, the more your amount of repayment will increase.
And as the amount increases, you will surely loose hope and gain an even higher level of stress.
However, repaying your increasing bills could have been easier only if you had known better ways.
You must be wondering how to eliminate credit card debts.
Do not panic, you will come to know this shortly.
The very first thing you need to do is to gather all the bills you have received to date.
By doing so, you will know how many months have you been billed for.
This should not just consist of your credit card bills, but also all the other spending you have done on car loans, to the smallest things, such as your cup of coffee.
Now, you need to give some concern to the items you have listed so far.
What you have accomplished today, is due to all the spending on these.
You must prepare two different categories, which are "unimportant" and "imperative".
By the time you are done listing the items under these categories, you will have a fair ideal of where did you go wrong? Set your priorities and follow them as this is one way of how to eliminate credit card debt.
Also you will save money to pay the bills for the items you need to pay that are more important in each month.
These facts will be all black and white and easier for you to understand the situation better.
Take the list you have prepared as a manual to limit your self from spending extra amount on unimportant items.
Had you not spent unnecessarily, you would be having a fair amount of money to pay your credit card bills.
If you always wondered how to eliminate credit card debt, then you have the answer on the paper in the form of the list you have come up with.
If you have more than a single credit card, then you can use them more wisely by using one for the monthly debt and the other for small amounts.
You will feel extremely happy once you become successful in making yourself credit card 'free'.
Now you can help others by telling them how to eliminate credit card debt.
The outcome of this exercise certainly sounds good, but it can only be achieved if the person has the willpower to stick to the plan.
The Plan: 1) Identify ALL expenditures - Perhaps carry a small notepad for a month to write down incidental expenditures.
But make certain you write down ALL expenditures.
2) Categorize all expenditures - Place two columns on a sheet of paper and name column one: Necessities (Rent, Mortgage, Lights, Gas, etc.
,), then name column two: Non-Necessities (Soda Pops, candy bars, movies, etc.
,).
3) Identify all credit cards and their interest rates - Place highest "Interest Rates" first, not highest card owed.
4) If possible transfer high interest rate cards to low interest rate cards.
Important: Make sure there is no charges associated with a transfer that would make it a costly move.
5) Reduce The Debt - Reduce The Stress - Take all the money saved from the unnecessary spending in column two of your "Categorize all expenditures" list and apply it to the card with the highest interest rate until it is paid off.
Then do the same to the next card on your list, and so on...
Important Note: Do Not Charge Any New Debt During This Process! Final Note: If you call your creditors and explain your situation (perhaps there was a layoff or sudden loss of employment or etc.
), and let them know you are creating a refined budget to get things caught up.
Then ask them if they can help by suspending the interest rate on your card and removing some penalty charges.
You might be very surprised to find they are VERY helpful.
Perhaps not all will be helpful, but nothing lost by trying.
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