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Four Ways to Say Goodbye to Credit Card Debt

Imagine you gained an extra 100 pounds. Your doctor may advise you to lose some weight through diet and exercise. Meanwhile, you may think back to days when you sprinted up stairs, wore smaller pants, and took breezy bike rides.

Think of your debt in the same way. Credit card debt is a weight on our minds and wallets. Once you free yourself from it, you can accelerate your financial growth and finally take your financial security to the next level!

Here are 4 tips to help you shed your debt:

  • Snowball Method: Find out the balance and interest rate of each credit card. If you have not reached the maximum amount on the card with the lowest interest rate, transfer some of your balance from the cards with higher rates. That way, you are reducing the damage interest will do to your debt. Work on paying off the card with the highest interest rate, then next highest, and so on, until you pay off the last, lowest interest rate card.
  • Change Your Rate: Consider giving each credit card company a call and requesting a lower interest rate. It works more often than you think, and each percent can save you hundreds of dollars!
  • More Than Minimum: If you are only paying the minimum payment, you unfortunately are prolonging or evening worsening the weight that credit cards put on you. Try paying twice the minimum. Not sure you can afford to do so? Considering re-working your budget, or if that doesn’t work, consider starting a second career to help you reach your goal of debt-freedom.
  • The Right Mindset: While you’re paying off your credit cards, don’t spend any more with them! Surround yourself with positive, money-minded friends that will help you live frugally and stay appreciative of what you have. Think about gaining instead of spending money. Here, again, is where a second career may benefit you.

To learn more about how to improve your financial life, visit Syncis at