5 Strategies To Pay Down Credit Card Debt

April 23, 2012

in Tips

5 Strategies To Pay Down Credit Card Debt

As tax season disappears in the rear view mirror, one subject that seems to get a lot of attention around this time is credit card debt. If you’re one of the many Americans with sizable credit card debt and you just received a fat tax refund, you might be trying to find out how you can use part of that money to help escape the monthly grind of credit card payments. While a large refund is the first step, the key to paying down credit card debt is more systematic than a large payment. You need to change your behavior and adopt some strategies in order to truly escape credit card debt. Although the tax refund won’t hurt, it may not be enough to keep you out of debt. You need to shed that debt and the only way to shed it is to spend less, putting savings toward that debt. Conversely, you can also try to earn more and put the additional earnings toward debt. Either way, you will need to start budgeting in order to find the extra dollars. You will not succeed at killing your debt if you do not know how much extra you can afford to pay each month. [Read this article]

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