Let’s talk about debt. More importantly, how to best pay off your debt. To make a dent in your debt, you need to pay more than just the minimum balance each month. It’s easy to adopt an “I’ll worry about it later” mindset when swiping your card. This is because you don’t really see the money leaving your account. But if you keep this attitude, you’ll end up in deep trouble.
Glow Up Solutions LLC wants you to enjoy a life of financial freedom, that’s why we are here to give you a few tips on how you can successfully pay off your debts. Take a look.
- Create a budget and stick to it. You can use phone apps or even an excel sheet to create your monthly budget. Enumerate all your needs and cut out those unnecessary expenses, like your $5 coffee for example.
- Tackle the most expensive debt first. Sort your credit card interest rates from highest to lowest and tackle the card with the highest rate first. This way, you can start chipping off your largest debt while making minimum payments for those with lower rates.
- Halt your credit card spending. We know how tempting it is, especially during the holiday season, but one thing our Credit Consulting in Florida tells clients is to stop or minimize your credit card spending until your finances are under control.
- Delete your credit card information from online stores. We know this was painful to read, but yes, deleting your card information from your Amazon, Sephora, or Zaful accounts will really help you in keeping your expenses low and paying off your debt.
For more expert advice, visit our Credit Solutions in Port St. Lucie, Florida. We’re always ready to help!