Credit cards are a trap, no matter how alluring they are. It seems like a great idea to get “free” stuff now, and pay for it later. Yes, sometimes they are necessary if you have an emergency expense, but other than that, they should be avoided at all costs. Many Americans are thousands of dollars in credit card debt, and it keeps them paying month after month, while damaging their credit scores. If you want to get out of credit card debt fast, read this article by Patricia Poladian at the Money Crashers blog. Here are her steps to paying off any debt:
-Free up cash for some additional debt payments. Eliminate excess expenses, or bring in more income with another job.
-Work debt repayment heavily into your budget- make it a main priority
-Try balance transfers, debt consolidation, or negotiating with your bank to make debt repayment easier. You may even be able to lower your interest rate.