Ways to Pay Off Credit Card Debt for You in Your Thirty Credit Card Debt
Being trapped in a pile of debt has become a common thing today.
More and more banking products in the form of loans that make people often rely on debt to make ends meet. Ranging from home loans, cars, to the latest smartphones .
However, one thing that is often forgotten by debtors, there is a big risk when you decide to borrow money. One of them is endless entanglement in debt.
One of the most common causes of debt is a credit card. How come? The easy and practical use of credit cards allows many people to own and use them.
Once you forget the responsibility of using a credit card, that’s where the debt starts to appear.
Then what is the solution? The way is easy, you have to be more responsible for the loan that you submitted.
By borrowing money using a credit card, you are automatically indebted. You must be committed to returning it on time.
For more details, Humpyloan invites you to look at 6 ways to pay off credit card debt for those of you in your 30s whose credit card debt is as large as:
Create a list of your debts
At the age of 20, you can still enjoy learning. You still have time to fail and start over. However, time is running fast, and now is the time for you to enter a new decade.
Your 30s require you to be more serious, where new challenges arise and now everything is more real. How not, at the age of 30 you start preparing your family and business for the future.
You need to reflect on mistakes at the age of 20 to get better results. If you still carry errors and debt burdens from your 20s, then it’s time to stop it!
Debt cannot be completed if you don’t know it. You need to describe each debt and expiration date to determine payment priority.
Set aside time to sit for a moment and write down the entire list of debts that pile up, and you are ready to determine the priority of payments.
Stop New Credit Card Debt
Today, the economy is getting harder so that credit or debt is a solution for consumptive living needs and expenses.
Unfortunately, if not used wisely, credit or debt can be a financial disaster. Before you fall into the deep “debt hole”, it’s better to STOP all debt and installments that are consumptive!
If indeed in your 30s you can’t save, don’t even think of:
- Take a smartphone installment ,
- Take a new car installment,
- Room renovation,
- Kitchen renovations, and so on.
If you still think so, that means you still haven’t prioritized saving. If it’s not prioritized, then you don’t need to read the next tips, because it won’t be useful.
If you don’t think about yourself, then try thinking about your child. If you do not prepare a children’s education fund, where is the money for your child’s school fees and tuition?
Just info, to open your eyes, 7 out of 10 Students in America pay tuition using debt. After graduating from college, these students immediately bear a considerable debt burden.
Do not believe? Try reading the following article:
How far is your financial development up to now? You need to know the progress to motivate you to achieve financial goals.
In addition, evaluation also allows you to find errors and find solutions.
Supposedly, at the age of 30 you are aware of what you should do. One of them is solving problems that have been made at the age of 20s.
Resolving problems can be realized if accompanied by meaningful actions. One of the active ways to pay off debt is to save money. You can repay debt faster if you have more money.
But what if all the savings methods have been tried and debts continue to accumulate?
That is a sign that you need to find another solution, because frugality has been done until the last drop of blood. Try a new solution, namely by getting more income.
The method can be by finding a side job, an online business, channeling hobbies or expertise, becoming a freelance , and so on.
With more income, you can pay off your debt faster.
Focus Pay Off 1 Credit Card Debt
If you want to be quickly released from debt bondage, you need to focus and prioritize debt repayment.
Determine which debt should be repaid in advance and pay more than the debt required.
Other Credit Cards Pay Above Minimum Payment
On the previous point you already knew that paying a minimum amount would only slow down debt repayment and increase your debt. The easiest solution is to pay the right amount and on time.
However, you can pay more than the minimum amount to pay off debts faster. But pay attention to your financial condition! If it is not possible to pay more, try looking for additional income.
If it is possible to pay more, do it now!
We are sure you will be able to pay off all debts faster this way, prove it now!
If you succeed, don’t forget to share this article with friends of your age who are also in debt as much as you can. Thus, you help your friends to get a better and debt free life.
Do methods 4 – 5 until all are repaid
The final step is to repeat steps 4 – 5 so that all of your debts are paid off.
Indeed, the steps will feel long and heavy, but after everything is finished you can start a new life that is better and prosperous.
You will no longer be haunted by the debt burden that continues to follow wherever you go and you will feel more calm and free.
To avoid similar things from happening in the future, improve your financial arrangements.
Humpyloan provides an e-book containing financial management guidelines for the 30s that you can use as a guide in starting a new financial life.
Donkey Doesn’t Fall Twice in the Same Place
Like the proverb, “donkeys will not fall twice in the same place”. That is, if a donkey doesn’t want to fall in the same place a second time, you should also be able to not repeat the same mistake!
We believe you can also pay off all debts after reading this article. After that, don’t let you fall into the same hole again, the “debt hole”.
Avoid new debt by saving money. Don’t just rely on credit cards. Remember that debt is easy, the difficult thing is to pay it off.