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Reply #32: it was rough for awhile [View All]

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Blue_Tires Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-26-05 01:38 PM
Response to Reply #19
32. it was rough for awhile
and i cut back on some monthly luxuries (cable, cell phone, PS2 games, and some others)...nothing i couldn't live without...

but i just decided to really accelerate my payment plan...(about 14 months ago, i had about $6000 is CC debt...now it's $270 come april 1).

what helped was paying the bill online...I stopped trying to hold back $$$ to send them a big payment each month; since I was getting a weekly paycheck, each friday night when i did my budget the FIRST thing i would do was make a weekly payment online each week---I would figure out the MAXIMUM i could use to pay off the debt and still live....not always fun, but paying off a cc at 20 percent ASAP is it's own reward, and frees up your money for other things (in my case, student loans...yeck)...

Some will suggest transferring to zero percent interest promotional cards...a good idea, but don't overuse it by trying to transfer balances every couple of weeks (and make sure you read the fine print on those promotions). If your interest rate is sky high (20+ percent)and the card is in good standing, you can also call them to request a lower interest rate (they usually give it).

just don't wait for the monthly statement to come in the mail each month to make a payment--that is exactly what the CC companies want...if you pay online weekly, or biweekly, or whenever you have some spare $$$$ after expenses, you would be shocked at how fast the balance can melt away...good luck
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