Finding ways to get out of credit card debt can be frustrating. There are so many options and yet many people still struggle to find a way to relieve the pressure of high payments and spiraling balances.
If you're serious about getting out of credit card debt, then here are some simple methods that can help you get on top of your finances.
If you really want to get out of credit card debt, then it's vitally important to stop charging new purchases to your credit cards. The idea is to reduce your balances, not keep adding to them.
Decide on one credit card to keep for emergencies and put this aside. Then cut up the others and resolve not to add more debt to your existing balances.
Create a Plan
Having a vague idea in your mind about reducing credit card debt is a good start, but it won't give you a plan of attack. You may also find you'll lose motivation very quickly without a clearly defined plan.
Write a list of all your outstanding balances and note how much you pay in interest charges on each of them. Number each debt in order from highest interest to lowest interest.