Best way to Pay down Credit Card Debt FastThe best way to pay credit card debt quickly.
The first thought I had was that it had to be false, I only had one credit card, and we were paying it off every single months, I thought at least.
Immediately I asked my man and found out that we owe $8,000 (£6381) on the credit card, but I was still not conscious of any other debt. On several occasions I had asked him to show me a break-down of our financial situation and to argue why we had credit card debt at all when we were actually going to follow the budgetary procedure I had drawn up two years earlier.
Admitting it, he revealed what he thought was the sum of our debts (it wasn't), and my whole planet was destroyed. Rachel: I experienced many emotional experiences in the first few weeks. With our money I payed the smaller credit card with our saving and close it (which was not wise from a construction point of view), and I started to compile a table with everything we owe and every fortune we had.
Amidst my vortex of activities I switched off my emotions and just didn't think about how much it was hurting me. I' m good at not having to spend anything, but when I have to make decisions and set priorities, I get very worried. When we began to earn a lot of cash and had to decide what to do with it (retirement? saves? holidays? dates? nights?), it became very stressing for me.
However, before I gave up the rein, I had built up some security networks regarding saving and notgeld. Rachel: My guy and I have been friends/dates since we were in Jr.High. And when I found out about the cash, I began to question everything. In my heart I believe in his kindness, I have never seen him attack anyone out of rage or mischief.
So I tried my best to comprehend what hurt him so much that he felt the need to do something like this, and he worked really harder to get help and get his habit changed. Even though I would never have taken this way, in retrospect I am thankful to have seen this with my man.
Both of us have a better grasp of who we are together and who we are individual. To me, I like my man more because I have seen him involved in the work of transformation, and I have seen his frailty and thereby beloved him.
Metro: What was the greatest modification you made? Rachel: Most of the changes we made were relatively small in the overall concept of things, and there were many small changes that made the big deal over the years. All invoices that were needs against wishes were canceled, including cables, Netflix and all prepaid apps on our mobile handsets.
It' astonishing what you can earn without having to spend a lot of moneys! There was also a target picture for the year that sketched out our objectives and by priorities, usually based on interest rates. But I cannot stress enough that it is necessary to establish, reach and commemorate objectives in this way. Rachel: It's difficult to call that a small modification, but it was the simplest modification and certainly led to the most advantages.
Metro: What was the least useful thing you changed? While we made a lot of cash, it usually came out even though we did pay the postage and fees from the website (eBay and Amazon). Metro: How does it make you think you're almost debt-free? We' re not going to buy into the spenders' cultures anymore.
As we plan for the years to come, we set aside cash and debt as the four-letter words that it is! Metro: What is the first suggestion you would give to someone who has a huge debt? Rachel: Financial................................................. Make a forecast, keep an eye on your expenses, and make short-term, real targets for yourself.
We' re unbelievably indebted to Rachel for telling us her inspirational tale.