Credit Card Debt Relief Forever

How to Lower Credit Card Debt

Do you use your credit card to go on unexpected vacations with your girls? Have you used your cards to buy a pack of gum costing only a dollar? Are you the one who always has to use your credit card because you don't have any cash or the money you have in the bank is for your rent only? Do you fill your gas tank up with your cards? 

"If you were not taught how to properly manage your credit cards it is not your fault, but now is the time to educate yourself. Unfortunately, credit card companies seek young college students who have very little income and the outcome is the over use of credit cards creating outstanding debt at an early age," James Kelly, personal finance specialist. 

Decreasing credit card debt is a topic never taught in school. A topic our families may have rarely discussed with us. Let's explore. The first step to maintaining your credit card debt would be to find out what you are using your credit cards for? Record and calculate your credit card usage for about two weeks and you will be surprised. If you are using it to go on quick unnecessary non-budgeted trips to Jamaica, shoes you don't need, dinner for one, bubble gum or just things cash would be more realistic for.you have a problem. 

The next step would be to record and calculate what you spend your money on overall. Where's your cash or credit card money going? What are your monthly, weekly and daily bills? How much is your breakfast, lunch and dinner? Do you spend more money on creating debt or paying off debt? What's a need, and what is a want? 

This experience may seem demoralizing and shocking for most of us. The first time I did this, I realized that I spent over $150 on food every week. I ate out almost three times a day and only paid the minimum on my credit cards which didn't make sense. Once I did this exercise I realized that I needed to eat at home. I needed to go to the grocery store and stock up on food that fit my lifestyle. As a young single woman, I never had a great need to "feed" anyone so I would eat out. Now, I eat out once a day for lunch mainly when I'm working and with the extra money I pay more on my credit cards.