Eliminate credit card debt for good

2007-03-08 10:33:40

( Financial )



Imagine walking past the shops on your way home from work. Out of the corner of your eye, you spot a fabulous pair of shoes in a store's display window. Without second thought, you rush inside, try these on and head to the cashier where you flash your citi bank credit card. Sounds familiar?

Todays generation is focused on living the good life and accumulating material wealth, in the process spending more than they earn. The result is millions of people each year heavily indebted, with credit card debt among the leading causes. It doesn't help that you are constantly bombarded with tempting offers for student credit cards, 0 interest credit cards or best credit card rates. Add to that is the growing number of credit card processing machines accessible at every corner. The question is, how can you eliminate credit card debt or debt for that matter? The good news is, you can eliminate credit card debt for good.

In order to eliminate credit card debt, first admit you have a problem and resolve to work it out. By adapting these steps, you can control your spending habits and eliminate credit card debt faster than you think.

• CUT UNNECESSARY SPENDING. Ask yourself some hard, tough questions. Do I really need a new car, a bigger house, those nightly trips to the bar or those weekend shopping sprees? Stick only to what you can really afford.
• PAY YOUR CREDIT CARD DEBT. Given the high finance charges and interest rates for ongoing balances, it is important to pay off your credit card balances in full each month. The faster this is done, the sooner you will eliminate your credit card debt.
• PAY FOR PURCHASES IN CASH. This can mean holding back or totally eliminating the use of your credit card. This way, you can keep track of your expenses and cut back on unnecessary spending. Although cash purchases won't stop you from spending, they will stop you from acquiring stuff you would otherwise purchase with a credit card.
• MAKE A BUDGET AND STICK TO IT. Make a list of your needs, financial goals and wants – in that particular order. Figure out what is important to you, identify areas where you can cut back, and the rest will follow.

You can eliminate credit card debt starting today, and regain financial control of your life. This has been proven by countless individuals who live financially happy, credit card debt-free lives. All it takes is a little sacrifice, discipline, and strategies that work.


All rights Reserved © Tradenet Services srl
Do not duplicate or redistribute in any form.