Struggling With Credit Card Debt?

Credit card debt can be overwhelming and stressful, but the good news is there are several ways to pay it down. Here are five strategies that can help you get out of debt and regain control of your finances.

1. Create a budget: One of the best ways to tackle credit card debt is by creating a budget. This will help you see where your money is going and determine how much you can afford to put toward paying off your debt each month.
2. Prioritize high-interest debt: If you have multiple credit cards, prioritize paying off the ones with the highest interest rates first. This will save you money in interest charges and help you get out of debt faster.
3. Use a debt snowball or debt avalanche method: The debt snowball method involves paying off the smallest debt first, while the debt avalanche method involves paying off the debt with the highest interest rate first. Both methods can be effective, but the debt avalanche method is often the quickest way to get out of debt. A great resource for me was Dave Ramsey and the Baby Steps. I paid about $10,000 in credit card debt within a year.
4. Consider a balance transfer credit card: If you have high-interest credit card debt, you may want to consider a balance transfer credit card. This type of card allows you to transfer your balance to a card with a lower interest rate. Just make sure to read the terms and conditions carefully, as some cards charge balance transfer fees. I do this with business credit cards ALL the time. I carry balances with business credit cards and when the 0% APR introductory period ends, I just open another card. Remember, this is not financial advice, this is just opinions on how I believe my tactical money-saving techniques can help you succeed. 
5. Automate your payments: To ensure that you are making progress in paying down your debt, set up automatic payments from your checking account to your credit card. This will help you stay on track and avoid missing payments, which can lead to late fees and higher interest rates.

By following these strategies, you can pay down your credit card debt and achieve financial freedom. Remember, it may take time, but with dedication and discipline, you can get there. Another pro-tip would be to get additional income. Something with low overhead and that takes very little time. Here’s a great video on the perfect side hustle for you.