If you are currently dealing with high levels of credit-card debt, you are certainly not alone. Consumer debt levels in the United States have been growing steadily since 2012 and, before we reach 2019, those debt levels are expected to reach new heights.
Paying off debt with the snowball method
Imagine a little snowball that you pack tight with your hands. Now imagine putting that snowball on more snow on the ground and gently rolling it around until it gets bigger, and bigger and bigger. Now, push the giant snowball down a hill and watch it continue to pick up more snow until it's a gigantic force to be reckoned with. This is kind of how the snowball debt payoff method works.
What does psychology say about my credit card debt habit?
Credit cards are valuable and useful when we use them responsibly. They can provide a first line of defense against an emergency financial need. They offer us convenience when making online purchases, and they allow us to skip carrying cash when we're out on the town. Nevertheless, according to one psychologist, credit cards are dangerous psychologically.
Do I have too much credit card debt?
Credit card debt can quickly grow from being a general nuisance into a full-blown financial catastrophe very quickly. However, when you're trying to evaluate how much credit card debt is "too much," you might not have a point of basis for comparison. That's exactly what this article intends to provide.
Would you give up Facebook to erase your credit card debt?
It's hard to believe, but Americans are so fed up with looming credit card debt that many admitted in a recent survey they would give up some of their favorite things for the chance to be debt free. The debt survey conducted by Mr. Cooper showed that 33 percent of Americans admitted that credit card debt caused them to lose sleep, and 25 percent said that credit card debt is interfering with the family relationships.
How to attack your credit card debt with everything you've got
One of the best ways to pay down your credit card debt as quickly as possible is to harness your financial resources, free up financial leaks and start directing all that cash to paying off your credit cards. Although this sounds simple enough, an action plan can help you stay focused on the most important aspects of this process.
2 things to help you navigate your credit card debt
It's easy to find yourself in out-of-control credit-card debt. All it takes is the decision to put a fancy vacation on your card. If you come home, and then find yourself in the throes of a difficult and costly health condition, you may be tempted to charge your medical expenses on your card. Then, you'll really be in trouble.
Are you underwater in credit card debt?
There's nothing worse than feeling like you don't have enough money to pay the bills. Not only will you feel like you don't have enough money to spend on entertainment and other things you enjoy, but you'll be worried about having enough cash to put food on the table, pay for vital utilities and pay the rent for the roof over your head. When some people find themselves in this kind of situation, they may turn to their credit card for a bailout, so they can make financial ends meet.
Billionaire reveals the best investment you can make
Everyone wants to take the money they earn, use it wisely and turn it into more money, right? This is exactly what the most successful billionaires in the world have done, and the average consumer can invest their money, too. Mark Cuban, the billionaire businessman, recently told MarketWatch in an interview his number one piece of investment advice: Pay off your credit cards.
Fix your credit score after Chapter 13 bankruptcy
Every person's credit score will be affected in some way or another following Chapter 13 bankruptcy proceedings. In most cases, those effects will be negative and damaging to your credit for a period of up to seven years. However, a bad credit score doesn't mean you'll be barred from building up your credit rating.
