You can plan and begin credit card debt elimination right from this minute. You can start the process with a little bit of careful planning and a lot of patience. Before you begin, make sure of your reasons and your commitment to eliminating debt. It may force you to change habits like cable or regular clothes shopping. If you are really ready to take charge of your finances, and climb out of debt, first, confront the debt, and commit to changing your spending patterns. The process will call for all your reserves of discipline and sacrifice.
Obviously, the most important thing you can do for long term freedom from credit card debt is to eliminate spending. Continued spending and high interests make credit card debt elimination almost impossible. Distinguish between wants and needs, and don’t buy the wants. Avoid impulse buying at all costs and cut out on all unnecessary ATM visits as well as cash spending. This will free up more money to devote to debt elimination. Make and stick to a budget. Living by budget will allow you to pool all available cash for debt elimination. Pay more than just the minimum amount on each credit card per month, or establish a payoff plan. Some experts tell you to pay off the credit card with highest interest rate first while others recommend paying off the smallest balance. Regardless of which you choose, maintain a regular bill-paying schedule and always avoid paying credit card bills late.
In addition, it is a good idea to seek ways of making a little extra cash, some additional income that would be devoted to the get out of debt effort. You can do one of many things to earn a little extra cash. While none of these will make you a millionaire overnights, they are good ways to make a little more.
You can sell things around the house. Gather up all the junk in the garage and all over the house, old board games, discarded clothes, old CDs, videos and video games and whatever else you see yourself never needing again. If you are a typical family, chances are you have loads of such stuff cluttering your house and you can easily sell that junk on EBAY for decent cash. Once you have made a few sales and gained confidence, try to purchase wholesale and sell for a profit. Alternatively collect items from friends or family members sell them, giving the person the bulk, and keeping a part as charges. Many people would happily let you sell their junk on EBAY. Garage sales are also useful for finding items for sale. Visit garage sales towards the evening and offer a set amount for all of the remaining items.
You can also become a blogger, writing an online journal or diary for public reading. Create your blog at a site related to your interest or expertise, build up content over a couple of weeks, and chances are you can have some income coming in. a lot of blogsites pay you for every time one of your visitors clicks on an ad
You could also become a notary signing agent, to witness and certify loan document signing. A mobile Notary Signing Agent would go to the home or office of the borrower to get the papers signed, and can make from $50 to $150 per contract.
If you can find and combine more than one way of generating small amounts of extra income, the total would add up quickly and make a big difference to your credit card debt elimination effort. You can and will get out of debt if you have the commitment and the motivation. It is obviously not going to happen overnight, so be patient with the plan. Reward yourself for small victories, and don’t beat yourself up if the going is slow and painful. Always remember, the sheer peace of mind, and wonderful sense of satisfaction and relief you will have when you are finally free of credit card debt will be well worth the wait and the effort.
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