Getting Out of Debt Tips : Part 2
This is part 2 of my “getting out of debt” tips from me, a regular every day person who got out of debt using these guidelines. You should be able to apply them in some ways, to your own financial situation and lifestyle (I’m hoping - if not, wait for Part 3).
3.) ALWAYS try to pay at least double, if not triple your minimum credit card payments. This not only gets them paid down - and eventually off - faster, but it also reduces the interest on the unpaid balance, which gives you a little more breathing room to pay less in the future, since you’re not constantly adding more interest. Then it becomes an exercise in futility.
4.) Go ahead and play the “Credit Card Game”. This is where you pay off a higher interest credit card to a zero balance, with a new zero APR card. These types of credit cards usually only offer the zero APR deal as a limited time introductory rate, but you’ll still be getting a zero interest rate for those 6-9 months, which gives you more time to “really” catch up on your payments and pay a little more, when there will be nothing else tacked on, and you can truly pay your balances down to manageable amounts.
