7 Habits for eliminate your credit card debt

Many people may say that eliminate credit card debt is common sense: “Use only cash and then no debt occurred”. This statement true but hard to do unless having a lot of money for pay everything.
Rarely to find someone who by house in cash. Most of people apply for loans or credit card for buy goods or services, this is ‘debt’. Is it the worst things to have debt? The answer -doesn’t necessarily imply that you’ve mismanaged your entire financial life.

Once you know that your debt is starting to get as large as the federal government’s, you may want to consider a quick diet for debt reduction.

Step 1: Debt for emergency and the others use cash.
Control your debt by control your spending. If you don’t stop overspending habit, no way for get out of the debt.

Step 2: Evaluate your financial condition and build a plan.
“If you fail to plan, you plan to fail,” that’s true statement. Plan usually helps you, let you know about your debt status, and guide the way to you. It have many steps to get the plan, review every creditor you owe, try to know how much it’s costing you to have each particular debt, and reviewing your payment history with all creditors.

Step 3: Find some money-saving options available.
Ever notice that when you become interested in Living a particular car you suddenly see cars of that model driving around, where before you didn’t see any! Well, those cars didn’t just get there; they’ve been there all along. This is like the eliminate debt options. As you review your debt status closely, you’ll see many opportunities to save money. For instance, that low— rate credit card offers.

Step 4: TAKE ACTION!
As you are the best professor but never do anything in real, you are just a plain professor. Success people are become wealthy by taking action. Learning by doing is the best. Formulate your money—saving plan today and, most important, follow through on it! Simply knowing the route from your home to your destination won’t get you there until you start traveling.

Step 5: Update credit card offers and loan offers information.
Simply check this on the internet or see your email inbox. And save those best rate in too some format file such as Microsoft excel. As you want to get lower rate you can see your own information for make any decision. Also, you need to track otters from your existing credit accounts.

Step 6: Ensure to close credit card account.
When you close your credit card account, you close your options. As long as your current credit card accounts aren’t charging you any fees for inactivity. But holding more card doesn’t imply more wealth. You still use credit cards in case of emergency only. I mean you have more card, you have more options to choose what credit card to use.

Step 7: PAY ON TIME-no matter what it takes!
Paying late for credit card means paying more, including late fees and interest charged. This hurts you suddenly, which would have been better used to reduce your debt, and a strike against your future bargaining power. Paying late also cost high interest rate due to your bad credit, of course you may not able to get the best rate too. In my experience, I pay debt on time for ten years and I got only 8% APR for reward.

Debt management is a continuous so stay on top your situation and keep more of your money!