3 Simple Ways to Reduce Credit Card Debt

By on September 1, 2013

By Italina Kirknis J.D. –

Most of us have credit cards but few of us have done the following. Begin saving by taking these steps.

1. Credit Card vs. Debit Card. Some people make a purchase with their credit card and worry about how they’re going to come up with the money later. My advice? Don’t make the purchase unless you will have the cash in 30 days (when the credit card bill is due). You may say, “Then what’s the point in having a credit card?” The point is to build your credit. If in one month you spend $1500 dollars in credit card expenses, but then pay off that $1500 dollar credit card bill at the end of the month, this builds your credit. After all, strong credit allows for increased credit card limits.

2. Call and Reduce. Call your credit card companies and let them know you would like a lower interest rate. Let them know you have been a loyal customer for a number of years and that you would like to see that loyalty rewarded. If they refuse to lower the rate, let them know you can transfer the balance to another credit card company with a lower interest rate.

3. Lead Us Not Into Temptation. Some people simply can’t handle having credit cards on them. Yes it’s great to have a credit card on you in case of emergencies, however you may not have the willpower to face a tempting yet unnecessary purchase. That’s okay. Simply place some cash in a hidden compartment of your wallet (for emergencies). Then put your credit cards in a bowl, fill the bowl with water, and place that bowl in the freezer. Now that’s what you call freezing assets. Enjoy!

 

Italina Kirknis, J.D., runs an Image & Branding Company, which specializes in working with Business Owners and Speakers who need to upgrade their Online Presence through Social Media, their Website, and Video. Receive your complimentary Online Presence Assessment by emailing [email protected].

About Italina Kirknis

Italina Kirknis, J.D., runs an Image & Branding Company, which specializes in working with Business Owners and Speakers who need to upgrade their Online Presence through Social Media, their Website, and Video. Receive your complimentary Online Presence Assessment by emailing [email protected]

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3 Simple Ways to Reduce Credit Card Debt