How to Pay Off Credit Card Debt Quicker

Instructions

Things You'll Need

• credit card statements

1. • 1
     Gather all your bills and credit card statements. You will need to put together a monthly budget. Budget for the minimum payment on each. Be sure to include the following in your budget: Rent/Mortgage, phone, internet, tv, water, electricity, garbage, debt, SAVINGS, car payment, insurance, and money for things like gas, food and entertainment. Be realistic to what you NEED. Make sure you save even if it's a little. This will help you stay on budget when something unexpected comes up. You will also feel better about your situation when you have a paycheck in your savings account.
   • 2
     Make a list of each credit card name, balance, minimum payment and the APR. Your APR is usually listed about halfway down the statement.
   • 3
     On your budget, pay the minimum amount due on each credit card except the one with the highest APR. Put any money left in your budget towards that credit card. In the long run, this will save you a substantial amount of interest. Make sure you check out the tips section for a few more ways to pay them off quicker.

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