Debt Be Gone!

When it comes to debt it’s easy to say that almost all of us are bogged down with it. However, having that burden of debt maybe holding you back from many other great things in life. From credit card debt to student loans it’s safe to say we all want them to just disappear. Although that isn’t reality having a debt payment plan is so that you will be debt free in no time.

1. Pay down debt with the highest interest rate first. It feels really great to just get rid of one loan all together, but you really have to look at the interest rate and most often that’s going to be your credit card so be sure to tackle that first.
2. Make a timetable to pay it off & don’t drag it out! We love deadline but be sure to come up with something that is realistic, but something that’s not too comfy because paying off debt is not a comfy thing and the longer you wait the more debt that you’re going to have. Also, think about automatic payments. If you are taking the money out automatically then you don’t feel as bad.
3. Call your credit card company & ask for a lower APR. Like everything else in life you have to negotiate. Believe it or not most companies would rather throw you a bone then loose you as a customer.
4. Consolidate your debt if you can. If you can look into a balance transfer which will allow you to take your current amount and transfer it into a lower balance but you have to be ready to pay this off because it tends to sky rockets after one year.