Credit Card debt can be the death of people, as we continue to max out the cards, and the credit card company increasing the limit, it can be a vicious cycle!
Honest question – How much Credit Card debt did you add during the Holidays? Or have you even looked at it? If you did add up some debt, your personal budget will need to be updated, so you can pay off those credit cards in a timely manner, and make sure that this doesn’t become a strain on your monthly bills. You want to make sure you know what your APR is, and if you have a certain amount of time to pay them off with no interest. Knowing this will help make the decision of how much to pay each month, and if you have a Debt Free Plan, this will need to be added and adjusted. We talked about a Debt Free Plan back in January of 2021 here is the link for that blog https://pinabiz.com/debt-free.
It will be a lot of work up front, but once we get all the data, we can create the personal budget, and snowball plan, and next thing you know it’ll be paid off.
Within this plan, there will be a plan to save, so you don’t get stuck using your credit cards again for this year Christmas gift. The best advice I received once was “If you don’t have the cash, you don’t need it.” This applies to paying off debt, we will be creating a way to save up for a raining day, along with 3 months of expenses in case something happens, and you are unable to work.
If you are serious about getting rid of the debt and want to create a debt free plan with some monthly accountability, schedule an appointment at http://www.pinabiz.com, and we can get started on a snowball plan to get you debt free.