Tip #7,178 • 1 person found helpful • 1 List If you get a large tax refund, put it towards your debt or building a savings fund. Use it to better your financial situation. Money money + taxes + savings + debt + finance + Helpful... Share Share Tweet Send
Tip #7,179 • 1 person found helpful • 1 List Pay less interest and pay off your debt faster by rounding up your monthly debt payments. If your car payment is $375, pay $400 instead, or more if you can! You can apply the same method to student loans, credit card bills, and your mortgage. Money money + bills + credit cards + debt + finance + Helpful... Share Share Tweet Send
Tip #7,103 • 1 person found helpful • 1 List Opt for a balance transfer method. Transfer all your outstanding balances from a high-interest credit card to a new credit card with low-interest rate to eliminate debt. Beware of the balance transfer fees, which is often 3% to 5% of the total amount you are transferring. Money credit cards + debt + Helpful... Share Share Tweet Send
Tip #7,101 • 1 List Target one debt first. Pay off the minimum balance on each card first. Focus on one debt at a time. Pay off the credit card that charges the highest interest rate, or make a point to pay off the credit card with the minimal balance first. Money credit cards + debt + Helpful... Share Share Tweet Send
Tip #7,104 • 1 person found helpful • 1 List If you are struggling to pay off your debts, then go for a debt management plan (DMP). A credit counselor reviews your income and expenses and decides a reduced amount that you have to pay each month to pay off your debt. Money debt + Helpful... Share Share Tweet Send
Tip #7,102 • 1 List Pay a bit more than the minimum payment. Paying only the minimum payment will keep you in debt for a long time. So, what is the solution? Pay a bit more each month. This extra money that you pay over the minimum payment minimizes your balance, which lowers the interest rate. Money credit cards + debt + Helpful... Share Share Tweet Send
Tip #7,105 • 1 person found helpful • 1 List Most 401(k) accounts let you borrow money up to 50%. If you have a 401(k) account you can borrow money from it to pay off your debts. Beware and proceed carefully as you are risking your retirement. Money 401k + debt + Helpful... Share Share Tweet Send
Tip #7,107 • 1 person found helpful • 1 List If you are really finding it difficult to pay off your debts, then you must renegotiate with your creditors. Contact your creditors and ask them for a new and lower repayment schedule. Most will be willing to work with you. Money debt + Helpful... Share Share Tweet Send
Tip #7,109 • 2 people found helpful • 1 List If you want to become debt free soon, then you must cut back your expenses first, especially, unnecessary spending. This may seem a bit restrictive, but remember, this’ll help you to reach your goal. Money credit cards + debt + Helpful... Share Share Tweet Send
Tip #7,106 • 1 List Are you carrying balances on your card from month to month? If yes, then immediately stop using your cards. Don’t pile up balances on your credit cards and avoid embracing more debts. Money credit cards + debt + Helpful... Share Share Tweet Send
Tip #7,108 • 1 List Drafting a perfect budget is the key tip to get rid of credit card debt. Scrutinize your credit card bills and jot down your monthly income and expenses to create a perfect budget. Money credit cards + debt + Helpful... Share Share Tweet Send
Tip #6,087 • 2 people found helpful If visiting a casino, only bring the amount of cash you can afford to lose. Leave any credit or debit cards at home. Money debt + Helpful... Share Share Tweet Send
Tip #7,110 • 1 List If you are trying really hard to pay off your debts, then go for bankruptcy. It’s a complex option that helps to eliminate debts quickly. But remember, bankruptcy should be your last resort. Money credit cards + debt + Helpful... Share Share Tweet Send
Tip #6,065 Avoid borrowing money from family. If it isn't repaid or something goes wrong it can easily strain the relationship. Money debt + finance + family + Helpful... Share Share Tweet Send
Tip #6,426 Keep yourself from increasing your credit card debt by freezing the card in a gallon of water. By the time it thaws, hopefully the urge to buy will be gone. Money funny + credit cards + debt + Helpful... Share Share Tweet Send
Tip #6,477 If you struggle to limit your spending, consider a prepaid credit card where you can only use money you have put on the card. Be sure to first learn about any fees associated with the card. Money shopping + credit cards + debt + finance + Helpful... Share Share Tweet Send
Tip #5,679 • 1 person found helpful When paying off credit card debt, always put any extra money for payment towards the card(s) with the largest APR. Also try to pay more than the minimum payment on all cards. Money credit cards + debt + Helpful... Share Share Tweet Send
Tip #5,383 • 6 people found helpful Before marriage take the time to talk about finances with your future spouse. Be honest about debt, savings, budgeting and planning for the future expenses such as a home and children. You'll be glad you did. Relationships budget + communication + marriage + savings + debt + finance + Helpful... Share Share Tweet Send
Tip #5,215 • 2 people found helpful Keep track of your credit and help avoid identity theft by regularly checking your credit report. Pull it for free from each of the three credit reporting agencies once a year at https://www.annualcreditreport.com/index.action. Money safety + debt + finance + Helpful... Share Share Tweet Send
Tip #4,963 • 2 people found helpful Use caution when considering a credit card balance transfer. Generally payments first go towards the money with the smallest interest rate, while the high interest rate debt is still accruing at the high rate. Money credit cards + debt + finance + Helpful... Share Share Tweet Send