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9 Ways to Get Rid of Your Credit Card Debt

29 October 2012 6 Comments

Nowadays, debt plagues thousands of people in the forms of student loans, credit card debt, and more. And those credit cards usually carry high interest rates that keep the price tag rising higher and higher. How’s a person to keep up?

First things first, debt is reduced by spending less. It’s a fact of life. Of course, if it were that easy, then no one would struggle with debt.

The main point behind removing credit card debt is decreasing spending while bringing in more cash. Here are a few creative ways to reduce debt and stick to your budget.

Freeze it

Self-control can be difficult. Curb your spending by putting your card on ice. Literally.

Fill a container with water, drop the plastic in and stick it in the freezer. Next time a spending spree urge hits, this tactic is sure to put the freeze on it.

One tip: Don’t take it out before it freezes!

Grab the scissors

If the freezing didn’t work for you, pick up a pair of scissors. Drastic? Perhaps, but that doesn’t mean it won’t work. If you don’t have any credit cards, you won’t be able to add to your debt.

Get another job

Devote a second income entirely to paying down debt. It’s not a lifelong decision, but it can do wonders to the bottom line. An added bonus: You’ll be so busy, spending money will be at an all-time low.

Make a budget

Lay out your bills. Every. Single. One. Add up the expenses and figure out where you can cut back. Remember, the debt will only increase unless you bring in more than what goes out.

Post the budget

Out of sight, out of mind. Don’t let this little ditty prove to be true. Post your budget along with a reminder around the house and in your car. Don’t derail your saving by forgetting the end goal. So, ignore the calls for an extra coffee or a stop at the mall.

Start small

Gather your debt amounts and separate them by credit card. Go after the smallest debt first. That accomplishment helps propel the will to continue to save. Small victories always feel good!

Aim high

Along with paying off the smallest debt first, it’s important to consider the debt with the highest interest rate. Credit card companies charge interest on debt, making it more difficult for those with large amounts of debt to pay it off. Paying off the minimum balance only leads to more debt.

It’s necessary to send higher payments. Only then can debt be lowered.

Go simple

A frugal lifestyle gets back the basics. Forget keeping up with the Joneses, stop going out every weekend, and focus on the goal. Plan outings at the park, go for a walk outside, or meet friends at local festivals. These free events are easy on the wallet and help your heart, too.

Go lean

Grocery store prices are through the roof and keep rising. Check out discount grocery stores. The outlets basically receive overstocks from other grocery stores and sell those items at a lower price. It might not stock every name-brand item, but your wallet will thank you.

Don’t drown in debt. While it can be debilitating, there are ways out of it. If these tips don’t help and the level of your debt seems insurmountable, get help. There are many different credit card consolidation companies as well as financial advisors that can give relief.

However, there are fees that are associated with such services. Another option, though some might disagree, is to file for bankruptcy. Use that move as a last resort.


Laura Burkey is a freelancer who blogs on such topics as gardening, parenting, and credit card calculators.

Pic1 Caption: The only way to pay off to debt is to stall spending. You might need to resort to cutting up your credit cards.

Pic 2 Caption: Post a note to remind yourself of your budgetary goal. What would you write?


  • Aram Durphy said:

    Good article. A budget is a key component here. I recommend looking through 6 months of credit card bills. Then, breaking down spending into categories (i.e. restaurants, movies, other entertainment, clothing, groceries), and then limiting a category like restaurants to no more than x amount a month.

    Credit card debt is pernicious. I also recommend that money should not go into investments while you carry a high APR debt. Reasonable investments cannot match the APR most credit cards charge.

  • heimarbeit findet said:

    Forget keeping up with the Joneses, stop going out every weekend, and focus on the goal. Plan outings at the park, go for a walk outside, or meet friends at local festivals. These free events are easy on the wallet and help your heart, too.

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  • cc international said:

    What is going lean ? how i can use in USA ?

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