A credit card is undeniably a convenient thing. But if you use it disproportionately to your income, then soon you will find a huge debt on it. To pay off your credit card debt faster, try the following guidelines.
Instructions
Step 1
Stop using the card
If you cannot pay for an item in cash, then do not buy it. You will never get out of credit card debt unless you stop using them now.
Step 2
Make additional payments
In addition to the minimum payments, be sure to make additional ones. The larger the additional payment, the faster you will pay off your credit card debt. Each time, the minimum payment will decrease. This is designed to help you pay your debt for longer. Therefore, do not reduce the amount of your payments.
Step 3
Reduce your expenses
Analyze your monthly expenses. You may need to give up some frills, entertainment or additional services. Try to save on food, cable TV and other expenses.
Step 4
Use additional income
If you received a bonus at work, a tax refund, or a cash gift, then use that money as an additional payment to pay off your credit card debt. Also try to find additional income. Whether it's a part-time job, or even the sale of some personal items (equipment, clothing, etc.).
Step 5
Track your progress
Keep track of how the debt balances on your credit cards decrease. You need to see the progress, because this will motivate you to further pay off the debt.
