How I paid off $40K of debt in 9 months

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Paying your credit card debt can be a challenge. Credit card interest rates are high and it’s easy to fall into debt if you’re not careful. What can you do if you’re having trouble paying your credit card bills?

Karen STEALS my CREDIT CARD and Goes on A SHOPPING SPREE – Reddit Finance Podcast
Karen STEALS my CREDIT CARD and Goes on A SHOPPING SPREE – Reddit Finance Podcast

Key Takeaways

1. The best way to deal with debt is to attack it head-on.

2. Don’t drag it out. It’s not worth the psychological toll.

3. Discipline is key. Don’t succumb to lifestyle inflation.

4. Set goals like “I will categorize my expenses” and “I will automate my payments.”

5. Utilize inferior forms of protection when necessary.

About Credit Card Reddit

CreditCardReddit makes it possible to share and discuss the latest in credit card news, promotions, and tips for better credit.

CreditMoneyWiki is a project of CreditCardReddit. It’s a community effort where anyone can add or update information about any bank, credit union, credit card, or loan.

Scams and identity thieves are always looking to victimize people, so it’s important to be aware of the latest scams and scammers. CreditCardReddit helps people stay up-to-date on what to look for.

Many times, people are unsure of who to turn to when they have questions or a problem with their credit cards. CreditCardReddit has one of the best customer service reputations in the industry. You can get in touch with an actual person from the subreddit, and they’ll be there to help you.

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How do redditors pay their credit card bills?

Redditors tend to be savvy when it comes to saving money. The subreddit /r/personalfinance is one of the most popular on the site, with 1.3 million subscribers. Related subreddits like /r/financialindependence, /r/401k, and /r/investing also attract a lot of interest.

Many of these subreddits talk about credit cards and debt. Reddit users are aware of how credit cards work, and generally seem to know the best strategies for paying them off.

But how do redditors actually go about paying off their credit cards? Here are a few of the more popular suggestions.

Paying off your debt in full

Many redditors recommend getting rid of your balance each month. This idea is known as “cancelling the float,” and it simply means that you do not let your credit card balance revolve.

There are several ways you can achieve this goal. For example, you could stop using your credit cards. You could also set up an automatic payment that clears your balance every single month.

Credit counseling

If you are able to pay off your balance, it’s best to do so as quickly as possible. Credit counselors can help you design a debt repayment plan that fits your needs and budget.

They can also help you create a budget, so that you don’t accumulate more debt in the future. Counselors can also negotiate with creditors on your behalf.

Debt settlement

Sometimes, the best option for dealing with debt is to eliminate

How do I try to pay off my credit card?

When you decide you want to pay your credit card, the first thing you should do is make a budget. By creating a budget, you can clearly see how much you are making and how much you are spending. You will also be able to see exactly how much money you have left.

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Next, you should set a weekly or monthly budget for yourself. Take a close look at your budget, and look at the things you have to spend the most money on. These are the things you should move over to your credit card. For example, if you spend $30 a week on groceries, you can put that onto your card.

What are the best strategies to pay off credit cards?

1.)pay as much extra as you can on credit cards.

2.)make a budget

3.)stop putting all your purchases on your credit cards

4.)Make sure to try to pay more than the minimum payment. Even if you can only afford to increase the minimum payment by $5/month, you will be going in the right direction. If you can push it to $10/month, even better.

5.)track how much you spend each month. This will also help you set a budget.

6.)when possible, use debit instead of credit. Debit is usually less expensive for merchants, so you’ll get a better price for your purchases.

7.)if you need to carry a balance, look for a card with a lower rate. Many cards offer promotional balance transfers for 0% APR. These can help you avoid paying interest in case you can’t pay off the balance before the promotional period ends.

8.)don’t close old credit cards. Having old credit card accounts open helps your credit score.

What are the drawbacks of paying off credit cards?

Though if you pay off a credit card sooner, you’ll avoid all the interest. You’ll see the savings add up. I don’t advise racking up too much credit card debt. But you shouldn’t be in a rush to pay off your other bills.

Credit cards are useful. You can use them to save by earning cashback. You can also use them to borrow. You’ll end up paying back higher interest than if you had a personal loan or mortgage. But it’s worth knowing that there are ways to effectively use credit cards. Use them wisely and you may improve your credit rating.

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How I paid off $40K of debt in 9 months

If you are struggling with increasing credit card debt, it may be difficult to know where to turn. You may feel that you have no way out. Fortunately, there are ways to get out of debt. You can take control of your finances and get back on your feet.The first step in any debt management plan is to calculate your total monthly debt. This includes all of your monthly credit card and loan payments. Your budget will include all of your necessary expenses, including rent, food, utilities, and transportation. Once you have calculated your total monthly debt, you should create a financial plan. This plan will not only help you pay off your debt, it will also help you identify your financial goals.Now that you have a plan, it’s time to get started. Start with the smallest debt so that you can feel a sense of accomplishment and stay motivated. Whenever possible, make more than the minimum payment on your debt. It may seem like a small amount, but these extra payments can make a big difference in paying down your credit card balances.There is no overnight cure for credit card debt, but with dedication and hard work, you can conquer your

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