Is debt weighing you down? For most Americans that seems to be the case. Many people have become so far into debt that there is no way in their lifetime that they will be able to pay it off especially with all the interest out there that bogs you down. So, what are some ways to lighten your debt load?
- Stop using your credit cards: You can’t effectively chip away at your debt if you keep adding to it. So, whenever you leave the house, leave your credit cards at home.
- Ask for a lower rate: Take a couple minutes and give a call to your credit card company. Just one simple phone call can reduce some interest and in the long run can save you hundreds of dollars.
- Consider a balance transfer: Transfer your card to one with a lower rate. This will help keep your interest low as well as your balance. Also read the fine print before to make sure you aren’t paying any additional fees.
- Make payments automatically: Paying bills automatically is a great place to start. This will help savings at the beginning of the month and will set up recurring payments online.
- Spend smarter: Its no secret that the key to paying off your debt is to spend less. Put your money towards your debt. Instead of eating out for lunch everyday pack your lunch!