Struggling With Credit Card Debt? Here’s How To Pay It Off for Good


by Andrea Miller on February 05, 2019  0 Comment

Struggling With Credit Card Debt? Here’s How To Pay It Off for Good
If you're like many Americans, you spend a significant amount of time wondering how you'll ever be able to pay off your credit card debt. Making the minimum payment and hoping for the best won't cut it. Here's what you need to know about tried and true strategies to get rid of those high-interest balances and secure your financial future. Change Your Perspective The thought of having $15,000 in credit card debt is overwhelming. Reframe your situation by mentally grouping the debt into smaller chunks: three cards with a $5,000 balance each, for example. If you have multiple cards, list each balance amount, interest rate, and minimum payment. Then, take a look at your budget and determine the amount of ...

Tips for Managing Credit Card Debt


by Jill Bridges on January 29, 2019  0 Comment

Tips for Managing Credit Card Debt
The average U.S. household carries close to $16,000 in credit card debt, which continues to add interest and grow over time. Adding to the burden, the national average credit card interest rate is 16.14%. With this much debt, families may find buying a home, putting money away in a college fund, saving for emergencies, saving for retirement, or balancing everyday living expenses to be difficult. For many, this debt can be overwhelming and difficult to overcome, but by approaching the situation with a change in spending habits, a commitment to saving, and a debt payoff strategy, you can manage your credit card debt. Spending Habits In many cases, poor spending habits lead to credit card debt. To pay off credit ...

What Are All Your Debt Relief Options?


by Staff Writer on September 08, 2017  0 Comment

What Are All Your Debt Relief Options?
Debt seems to be the one thing that Americans have in common. Almost everybody, from the working poor to multi-billionaires, has accumulated a staggering amount of debt they need to pay off. But people often struggle to do so because they are unaware of all the debt relief options available to them. Americans have amassed $1.3 trillion in student debt alone, with 44.7 million people owing an average of $37,172, according to the Federal Reserve. But this is just the tip of the iceberg; U.S. households owe $1 trillion on credit-card and auto loans. Not surprisingly the average American household owes $132,529 in debt, an amount that has increased by 11% (or $14,578.16 per household) over the past 10 years. ...

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