Successul Debt Management

Debt ReductionTo reduce your debt, you must stop using your credit cards. These days, the average American with debt carries more than $8,000 in debt on credit cards. Perhaps you pay some of your bills with your credit cards. You tell yourself it’s for the “rewards” like Disney Dollars and airline miles. But if using your credit cards for these purposes is adding to your debt, you should pay another way.

In addition, many people fall into the trap of paying for things with their credit cards with the good intention of paying at least that amount off when the bill comes, but whenthe bill comes, the cash is not available.

They then pay the minimum payment and their debt continues to increase as the interest continues to roll over. Never let this happen 2 months in a row. If you cannot pay off your debt then you should not use your card for any other purchases until you can pay it off each month. Draw a line in the sand and start today- this very minute.

Debt Reduction debt means working toward reducing your debt, of course, but you can’t do that without working toward reducing your expenses first. Saving money is like giving yourself a raise. See where you...

Learn more here: http://www.globalfinanceworld.com/debt/credit-card-debt/successul-debt-management/

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