How to best solve credit card debt? It turns out paying credit card installments is one of the big expenses for some people. Do you experience the same problem?
Usually people in big cities have more than one credit card. Sometimes even one credit card is used to cover another credit card installment or Dig Hole Cover Hole. Here are the solutions you can do to start solving credit card problems:
1. Stop Credit Card Debt
The step you can take now is STOP or stop adding credit card debt. Do not add new debts, including not using one credit card to pay for another credit card. With this step you have stopped increasing the load. If you have successfully done this first step, then go to step 2.
2. Priority to Get Rid of the Smallest Credit Points
In the world of finance, there are two strategies to pay off debt.
Strategy 1: pay debt with the smallest credit principal first
Strategy 2: pay off the debt with the biggest interest first
I myself prefer strategy 1, paying off the debt with the smallest principal, because this strategy provides comfort for the person who runs it.
3. Pay on time and above the minimum value
Credit card affairs always pay on time, the right amount and always pay above the minimum value. If you pay a minimum value, the remaining bill will be charged interest. As you know, credit cards include high interest loans.
4. Add income
Frequently asked questions are: “Sir What if my income is not enough to pay the installments?” The only answer is to increase your income. There are several ways to increase income, including by doing business online. It’s not easy to add income, but you need to consider this option.
Take advantage of additional income money in the right way. Additional income should be used to pay off existing debts. In this way, you can immediately be free from credit card debt bondage.
5. Discipline in Managing Finance
Finally do everything with discipline, especially in taking care of family finances. In the condition of being stuck in credit card debt installments, it really needs hard work.
Be careful in using a credit card
Credit cards are a means of payment and are not recommended to credit credit cards. One thing you must remember is: before swiping a credit card, you must already know how to pay for these expenses. Don’t use credit card installments, to buy consumptive items. Try to keep you disciplined in using a credit card, use a credit card to get discounts and benefits.