Credit card debt grows quickly and can overwhelm you before you realize it. If you direct your energy towards paying off the debt, you can reduce it significantly and prevent it from accumulating. Here are 16 tips to help you pay off credit card debts faster.
Have a Positive Attitude
Do not allow the huge figure on the debt discourage you from paying it off. Start by paying off the smallest amount you can afford and after some time, you will notice that the debt decreases gradually.
Do not Add More Debts
Stop using your credit cards once you have started to pay off the debt to avoid making the balance bigger than it already is.
Pay More than the Minimum Amount
You will take longer to pay off your debts if you are making just the minimum payments. The more time you take to pay off a debt, the more expensive it becomes.
Increase Your Income
Increase your income by getting a second job. You will have extra money that can be applied to your monthly payments to help you clear those debts faster.
Temporarily Reduce Retirement Contributions
Your retirement fund will not earn as much interest as your debt is costing you. Reduce the amount you contribute to your retirement fund so you can increase the amount of money you can use to pay off what you owe.
Pay Off the Debts with the Highest Interest Rate First
Start by paying off those debts with the highest interest rates to prevent the debt from accumulating. It will help you to save more money on interest.
Use Tax Refunds
Use your tax refunds to help pay down your debt instead of just spending the money. When you add this money to your normal payments, you can clear your debts much quicker.
Live Frugally
Living frugally means that you keep your expenses to the minimum, while taking advantage of cheaper options to live. You will have more money available that you can use to pay off your debt.
Sell Off The Items You’re Not Using
If you have items such as electronics or clothes that you are no longer using, sell them online or hold a garage sale. Direct this extra cash to pay off what you owe.
Read Self-help Books
Borrow finance books from the library. They have useful insights that will assist you in getting out of your debt situation.
Do not Miss Any Payments
Keep up with your monthly payments so that you are not penalized for missing out on any payments. These penalties add to the amount of debt that you already owe.
Change Your Spending Habits
Your spending habit is the main factor contributing to the amount of debt that you have. Buy those items that you will actually use to prevent waste.
Make A Budget
Make a budget of your monthly expenses to avoid overspending. Review it periodically to make sure that you’re including all of your expenses.
Debt Consolidation
Debt consolidation involves taking out a loan to pay off your debts. You will only make a single payment each month to the consolidating company to pay off the loan. An advantage of consolidation is that you make lower payments each month so it easy for you to pay back the loan. However, debt consolidation is not the best option because you will be moving debt from one creditor to another and not reducing it as you would with debt settlement.
Use Cash
When shopping, use cash as you will be able to see it reduced and you will not overspend.
Negotiate a Debt Settlement
Debt settlement involves negotiating with your creditors to pay off your debt in a lump sum. After you have paid the lump sum, your creditors should write off the balance. Debt settlement helps you to be debt free within a short period of time.
National Debt Relief helps resolve debt for people nationwide who owe $10k+ in unsecured debt. Our experts negotiate with creditors so that clients pay only a fraction of what they owe and can become debt free in as little as 24-48 months. 
