5 Easy Ways To Bring Down Credit Card Debt

Nobody likes credit card debt. However, it is a common condition that many card owners face. So, are you also facing the same? Well, here are the top 5 ways for you to get rid of this debt completely.

Learn Frugal Living

The best way to save more so that you can clear your credit card debt faster is to switch to frugal living for some time. Start by stopping additional shopping of unnecessary items such as cosmetics and premium clothing.

Stop impulsive shopping, which is usually the result of temptation. Do not buy anything immediately just because you liked it or it is unique. Think at this point of time whether it is truly necessary to buy that item or not. That item may be new or attractive but it may not be fulfilling your needs; it may be something that you want, not something that you need.

Act as a shrewd shopper who knows what to buy from which store and at the best price. This is where you would use coupons and grab deals.

Strategically Pay Off

Do not just start paying off your debt just because you need to clear the dues. Rather, pay it off with a good plan of action such that you do not have to repent for any unexpected action later. This plan should have strict rules of your spending and savings within the rim of a stringent budget.

The goal of this plan is to pay off maximum debt possible for each credit card. You clear the debt of the first card and then clear the dues of the next card. You may choose to bring down the debt having a higher interest rate to save more or opt to clear the small dues first.

Owe Fewer Credit Cards

Bringing down the number of credit cards is a primary step to be taken for clearing or reducing the credit card debt. Although each one of us has different requirements, there is truly no need of having several credit cards that allure you to spend needlessly.

While the needs differ, it is recommended to have not more than three credit cards. Further, you should know how to use them in the right way. Haphazard use can have negative fiscal repercussions.

If you can keep your spending under control, you can have up to three cards with one being always in a locker safe at home. However, you should not use this card for handling an emergency; for that, you need to have an emergency fund.

Create a Buffer or an Emergency Fund

This is another major tip to consider if you do not want to increase the debt while trying to reduce it or fall into the trap of debt again. While clearing the pending debt, if something unexpected occurs, you at least do not have to use the credit card for payment. The buffer fund will help you at this point.

For creating this fund, consider contributing a little bit from your monthly paycheck. Alternatively, you can also consider opening a savings account.


This is another effective way to bring down the credit card debt. Consolidating it into a loan of a low rate of interest can save significantly for you, as you will end up paying a low interest amount.

While it is nice to do so, you need to comprehend the terms and conditions, including those for the fees. Doing so will ensure that will end up saving on interest payments.

Well, consolidating does not mean that you now no longer need to manage your finances or curb expenses.


So, which one seems to be the best way for you? Well, it is likely to be more than one!

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