It doesn’t matter what the situation is, or how good you are with money, credit card debt is something that quite a few of us have to deal with at one point or another.
With the cost of living going up and the living wage not matching it, understanding how to deal with credit card debt can be helpful to stay on top of it even during a rough patch.
Keeping credit card debt manageable requires taking control of how you’re tackling it, according to First For Women’s article, “The Best Way to Pay Off Credit Card Debt”, which recommends to:
- Track your monthly costs and prioritize, which means cutting down on unfixed costs, like restaurants, entertainment
andshopping for non-essentials
- Pick a card and start to pay it off
- Consider a trickle payment system or a lump sum system
There’s no such thing as a wrong way to pay off debt, other than just not to deal with it. If you’re looking for more detail on those options or need to know more about the process, take a look at First For Women’s post here.
SOURCE: First For Women