After this friday I will owe about $1100 on credits. I am 20 years old and I do have a job and I know I need to cut them up, but it is a hard. Anyone else out there going thru credit card debt and any good solutions, without cutting them up? or is that my best bet?
2006-12-18 14:23:56 · 6 answers · asked by jennisea04 3 in Business & Finance ➔ Credit
First off, pay the smallest balance off first. If the balances are about the same, pay the one with the highest APR first. Save $20 per paycheck -- put it in savings and DO NOT touch it. Then, when Christmas shopping season rolls around next year, leave the credit cards at home. Take the money out of your savings acct. and shop til it's gone. After that, start baking fudge or banana bread or making nice cards.
We NEVER use credit cards for Christmas gifts. And when January rolls around, our budget doesn't change -- and no stress is involved. It's all a matter of discipline. Best wishes and Merry CHRISTmas!
2006-12-18 14:46:14 · answer #1 · answered by Charlie J 2 · 1⤊ 0⤋
You need to stop using your credit cards. Cut them up. Start paying more than the minimum balance on the highest one. It is so important to put yourself on a budget. Put it down on paper so you can see what you are spending. I have done this for a long time and it helps. I always have had money left from the month and hide it(minus it out of my checkbook) and put in the back. I do this so when it is time to pay my taxes for my county it doesn't hurt.
2006-12-18 15:18:55 · answer #2 · answered by Chillin-it 7 · 0⤊ 0⤋
Yes cut them up but also bite the bullet and get a second job and put all the money towards your cards. You'll have them paid off in no time and once you aren't in debt any more you can quit the job. It doesn't kill you to work extra for a few months.
2006-12-18 14:28:34 · answer #3 · answered by Jemma 2 · 0⤊ 0⤋
christmas time is the the time inwhich most people find them self using credit cards, what i do and seems to work out good for me is i open a cd account in late november for 12 months and i put $50.00 twice a month in it and i leave it untill the next november and i use that money for my christmas shopping. hope this help.
2006-12-18 14:42:17 · answer #4 · answered by glenn_9371 1 · 0⤊ 0⤋
Just put that aside and stop using them. Pay off the balance as soon as possible.
2006-12-18 20:23:43 · answer #5 · answered by a9113257311 3 · 0⤊ 0⤋
cut em up and cancel christmas you are twenty and single you do not have to buy stuff for anybody.
2006-12-19 00:48:31 · answer #6 · answered by Anonymous · 0⤊ 0⤋