Oh, yes. The holidays. A fun time for all. It might not be a fun time if you racked up some serious credit card debt in the process. Luckily, Southridge Capital and Newswire have some helpful suggestions on how you can recover very quickly from your debt. Check out citybizlist.com to see more.
1) You should start by looking for a card that you can use to transfer the balance to at a lower rate. What about the 0% interest rate cards? We do offer them, at Southridge, but you need to be careful. You need to pay attention to how long the 0% lasts. You also need to pay attention to what the rate will be after that. We can tell you what to expect with these cards and whether they are a good option for you or not.
2) You need to get motivated to start paying your debt down. A lot of our clients are not motivated. That is where the problem comes in. They need something to get them going. A lot of our clients are motivated by a “sense of progress.” You can start by paying down the highest cards first. You can try to control your spending and address your willpower. Whatever it takes. You need to find your motivation and use it.
3) Create a budget. Look at your current spending habits. What can you afford to keep or not keep? You may need to cut some spending for the time being. It will be worth it in the end though. You can think of it as a “special treat” for being so good at paying your debt down.
4) You can pay more than once a month. Do you have extra money lying around that you are not using? Take the money and make another payment.
5) You may want to think about earning some extra money. Why not ask your boss for some extra projects? The extra work you do will increase your paycheck.
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