Wondering how you’ve suddenly accumulated high credit card balances? This article from the New York Times, featuring our own Dave O’Brien, dives into unique ways you can quickly eliminate credit card debt after the holidays. Read more about a few great ways to pay down your holiday debt and start planning for next year’s holiday giving.
A Few Tips
- Make high monthly payments – enough that it hurts
- Call the credit card companies asking if they can lower your rate
- Consolidate debt into a lower interest personal loan
- Bi-weekly payments rather than monthly
- Use a simple paper calendar to track your progress
- Temporarily reduce retirement contributions, then resume at a higher rate