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Creditcarddebt Tips| how to reduce your creditcard debt.

So you realy want to reduce or even slash your creditcarddebt.....

Here are the best tips I can give you and realy hope it helps you in your fight to reduce those debts

Write down what you spend

This seems like a dull thing to do but real it helps you to understand where the money is going. Write every penny, nickle, dime and dollar down in a notepad as you spend it and do this for at least a month. You will find spendings that you cab easily cut back on. Eating out, renting movies ..it's the small cash that adds up

 

Lower the intrest

small numbers add up quickly...what about large intrestrates...The diffrence between a few %points doesnt seem to be much but it realy adds up. Ask for a lower rate. Most companies are willing to do so but you have to ask for it. They don't want to loose you as a customer.

Take a look at your mortgage...have you refinanced? Is the rate as low as can be..lock it in. If not shop around and lock in asap and don't stay on a variable rate.

 

Look for savings on monthly bills

When you add up the large bills you receive every month for tv, internet and the phone you will most likely find some bills that can be lowered.

Take a look at you phonebill...use on online calculator like BillZilla to check if you are not paying too much

Do you own a membership to a health, fitness or other sports club ...are you going there and is it worth the money while strugling with creditcarddebt?

 

Remind yourself of a solid financial future

Buying on credit is an habbit we all got...but you better realize this... 85% of the people now turning 65 dont have more then $200 in savings. 87% have to live of a pension of about $250 a week (according to the IRS)

If you don't have the cash you can not afford it...simple but true...A $2000 car at 19% is only a small amount a month but in the end you pay more the $10.000 for that $2000 car. Intrest adds up...and it does very quickly. Don't fall for the mindtrap ..it's "only" $150 a month or it's within my monthly budget...Take a look at what happens if you save the $150 a month and wait for that new "secondhand" car. It saves you about $8000 in interst.