While we can’t perform a magic trick to pay off our credit card debt, there are things we can do to make it easier. Whether it’s coming up with more money or consolidating, you can pay off credit card debt once and for all. Let’s look at tricks to pay off credit card debt.
Be Realistic About What You Owe
You may have a rough idea of what you owe, but you need to know the exact amount. This will give you an idea of how much you need to pay each month to get out of debt at a certain time.
One of the best ways to consolidate debt is to choose a credit card that has zero-interest. Many of these cards have zero-interest for 18 to 24 months. If you can pay off the debt in that amount of time, do it. This will save you so much money in interest.
However, only do this if you truly plan on paying off the zero-interest card. After you transfer the original amounts, be sure to cut up those credit cards and close those accounts.
Negotiate for Lower Payments
It doesn’t matter if it’s your cell phone company, satellite service, or even your natural gas company. You can negotiate with almost any company to get a lower price. This is especially true with providers where you have other options. For example, a natural gas company may be willing to lower your prices when you tell them that another company is offering you a better rate. Take the money you save on these bills and put it towards your debt.
Get Rebates on the Items Your Family Needs
Thanks to apps like Ibotta and Checkout 51, you can get rebates on the items your family needs. All you need to do is scan your receipt and your items to get a rebate. There are rebates added each week. If you combine these rebates with sales and coupons, you may even get paid to buy some of these items. Another rebate option is through online rebates. Companies like Ebates allow you to earn cash back for your online purchases. Use this cash back to pay on your debt.
Entertain for Less
Instead of going out to the movies, find a movie on Netflix. With Netflix, you pay around $11 a month for unlimited streaming. This is around the price of one movie ticket. You can also have family game night or go to the park for a picnic as ways to entertain for less. This clears up so much more money for paying off debt.
Don’t just dream of getting out of credit card debt, do it. These tricks will make it so much easier to pay off credit card debt.