THE SECRET, told at the beginning, is that continuing to pay high interest will almost for sure, keep You in debt. Once You change Your plan to go to Our lower interest rate companies, save money and use that difference to continue to reduce Your debt. You WILL GET HAPPIER !
LIST OUT ALL OF YOUR DEBT AND FIGURE OUT A PLAN TO GET RID OF IT ! USUALLY : ON HOME LOANS JUST FIND A HOME LOAN AT A LOWER RATE. oN STUDENT LOANS THE SAME IS TRUE. ON CREDIT CARDS A 0% BALANCE TRANSFER WILL USUALLY GIVE THE LOWEST AMOUNT OF TOTAL INTEREST TO BE PAID. A PERSONAL LOAN WOULD BE BEST ON RANDOM DEBT OR ON CREDIT CARD DEBT THAT WOULD HAVE A MINIMUM FIXED PAYMENT AND AN END IN SIGHT. LOOK TO SAVE ON SPENDING APPLYING THAT DIFFERENCE TO FURTHER REDUCE DEBT. MAKE A PLAN FOR WHICH NEW COMPANIES WILL BEST HELP YOU TO REDUCE THOSE RATES.
We have listed the best offering companies in each category. look around on their sites as you might find great deals in other categories.
There are plenty of places to read about budgeting, so check them out and learn from them. Then use those savings to pay down even more debt.
Go over Your credit cards, checks and bill payer accounts, see where You could cut spending and use those dollars to reduce debt.
Sell things that You don't need and apply those funds to reduce Your debt even more.
Look for other ways to increase Your income and use those those funds to reduce Your debt.
If You have multiple cards, roll all or as many as possible. And watch to see if You have more offers later on and then, take them.
If You have credit cards with one bank, You will need to get a 0% Balance Transfer from a different bank for that card. Most Banks charge 5% to roll...so Your rate is that 5% for the period. If for 18 months then approximate APR is figured as 5% / 18 x 12 or 3.33%. if your current reate is 24% per year, than you would pay 36% for that period. a 5% rate is a savings of more than 31% with compounding. As a general rule You should,of course, get a lower rate on Your mortgage and then make regular payments until all other debt is taken care of first. Pay off the highest interest rate debt/loan/card first. As an alternative You maybe could payoff a smaller balance card first. Pay off the highest interest rate debt first.
Realize that when You get the new card that You will have 30 days or so days to pay.Take advantage of this time by paying down other debts before that payment is due. But make sure that You have the payment ready to be paid.
Using a Bill Payer System makes sure that Your money or check is not delayed or lost in the mail.
Save money with Rakuten and Amazon. Apply the difference of what You would have paid to Your debt.
Using the free Experian application allows your credit rating to rise and then lower rates being offered to You in the future.
Help Your Friends by showing them the site. They will do better financially and when You help someone, it always seems that good things will come Your way !
MAKE A PLAN AND STAY ON THE PATH !!!
Make it a FUN GAME with a HAPPY ENDING !!!
If You start with RAKUTEN and buy something that You need to buy for say $25, RAKUTEN Will Credit You with $10. That is a 40% savings. If You then sign up with LIFELOCK for Important Identity Protection through Your RAKUTEN Account You will receive 40% CASH BACK ! AT LEAST THAT IS THE CURRENT DEAL. that is A GREAT WAY TO START !