In today's fast paced "credit card" lifestyle, we can find ourselves spending more than what we really need to, which can lead to adding more debt and stress to our lives.
10
Quick ways to pay down your debt
Pay more than your minimum: Add a little extra when making your monthly payments. This is a small step that makes a big dent over time!
Pay off expensive debt first: Start paying down accounts that charge high interest rates.
Avoid Late Fees and Over Limit Fees: Know when your payment due dates are. To make sure you are not assessed a Late Fee, leave time for your payment to be received on time. If paying by Internet, check the posting time frame listed on the Company’s website. Also, be aware of your pre-determined Credit Limit. If you should go over this amount, the Credit Company may charge you a Late Fee.
Use cash: Pay for everyday expenses like gas, coffee and food with cash. This will help keep your Credit Card balances down and reduce your monthly debt obligations.
Priority spending: Pay at least the minimum payments on all bills before you spend money on extras.
Make your money work for you: If you have outstanding credit card debt, and you have a Savings Account, use some of your savings to pay off high interest debt. You will eliminate Credit Card debt that is costing you more interest than you are earning in your savings account.
Refinance Loans: Contact your Mortgage Banker to see if you can qualify for a lower Interest Rate on your Home Mortgage. Check with your Auto Finance Company or Local Bank for lower rates on your Auto Loans. A lower rate can save quite a bit of money over the length of your loans.
Stop leaking money: Premium Cable Channels and over-priced Internet Services can “steal” your money. Contact Cable and Internet Providers to see if they can give you a better monthly rate, then check with your current Provider to see if they will match or beat their competition to keep your business.
Even out expenses: Contact your Utility Companies for a “Budget Helper Plan”. This will give you consistent equal payments for a specific period of time, eliminating or reducing huge heating or cooling bills. The money you save can be put towards paying off your high interest Credit Card debt.
Home Equity Line of Credit: Why pay high interest charges to your Credit Card companies? A Home Equity Line of Credit may have a lower Interest Rate. Also check with your personal Tax Advisor to see if your HELOC will be tax deductible (saving you even more money!)
Quick ways to pay down your debt
Pay more than your minimum: Add a little extra when making your monthly payments. This is a small step that makes a big dent over time!
Pay off expensive debt first: Start paying down accounts that charge high interest rates.
Avoid Late Fees and Over Limit Fees: Know when your payment due dates are. To make sure you are not assessed a Late Fee, leave time for your payment to be received on time. If paying by Internet, check the posting time frame listed on the Company’s website. Also, be aware of your pre-determined Credit Limit. If you should go over this amount, the Credit Company may charge you a Late Fee.
Use cash: Pay for everyday expenses like gas, coffee and food with cash. This will help keep your Credit Card balances down and reduce your monthly debt obligations.
Priority spending: Pay at least the minimum payments on all bills before you spend money on extras.
Make your money work for you: If you have outstanding credit card debt, and you have a Savings Account, use some of your savings to pay off high interest debt. You will eliminate Credit Card debt that is costing you more interest than you are earning in your savings account.
Refinance Loans: Contact your Mortgage Banker to see if you can qualify for a lower Interest Rate on your Home Mortgage. Check with your Auto Finance Company or Local Bank for lower rates on your Auto Loans. A lower rate can save quite a bit of money over the length of your loans.
Stop leaking money: Premium Cable Channels and over-priced Internet Services can “steal” your money. Contact Cable and Internet Providers to see if they can give you a better monthly rate, then check with your current Provider to see if they will match or beat their competition to keep your business.
Even out expenses: Contact your Utility Companies for a “Budget Helper Plan”. This will give you consistent equal payments for a specific period of time, eliminating or reducing huge heating or cooling bills. The money you save can be put towards paying off your high interest Credit Card debt.
Home Equity Line of Credit: Why pay high interest charges to your Credit Card companies? A Home Equity Line of Credit may have a lower Interest Rate. Also check with your personal Tax Advisor to see if your HELOC will be tax deductible (saving you even more money!)
I hope you found this information helpful and easy to use. Should you have any questions, please feel free to contact me via email or phone.
Please visit my website http://www.stevengoldmanloans.com/ for additional information, useful links to my Referral Partners and to Apply for a Mortgage.
As always, referrals to friends, family, neighbors and business associates are always welcome!
Have a terrific summer!
Steven
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