The phrase “lower my debt” pretty much sums up what most people are discussing in the office, homes, and even coffee shops. In the United States of America, most people have become slaves to debt. Worse, these debts are often owed to large companies who do not really care about the consumers as long as they make a profit. Credit cards are almost indispensable, but with proper management they can be used to maximum effect and with minimum cost. It takes a few things on the everyday, personal level though, so let us try a first-person view on the daily tits and tats to beating credit card debt.



If I want to lower my debt, then I need to stop using my credit card as much as possible. This means I will need to carry cash on me at all times, but that is probably better than having to pay large amounts for interest every month. If I stop to think about it, buying groceries with my credit card means having to pay more than what I actually need to. I have the cash for it, so why tack on interest by using my credit card?

I have two credit cards, but one of them has a lower interest rate. It would be a good idea to move the balance on the more expensive credit card to the less costly one. Of course, I will not use either one until I get the balance to a manageable level.

The next step to lower my debt would be to take note of my expenses. I need to carry a notebook around with me for noting everything down, as well as keep my receipts. At the end of every month, I will compile everything, and see where I can save a bit of money. Maybe I am spending a bit too much on ice cream, or maybe I need to eat out less. I think I can also cut down on smokes and alcohol; they're bad for my health anyway.

It says here that my monthly minimum balance to pay is about X dollars. I will not fall into their trap and end up paying them for years to come plus end up paying several times the original price of the items I bought. I want to lower my debt, so I will pay off much more than the minimum balance. It means I will need to skip several treats and more than a few coffees, but I would rather choose that over the alternative. If I pay more, then the interest is paid off, and a little bit off the principal is paid too. Over time, I can whittle my debt down until I can pay for the whole thing altogether.

Lastly, to lower my debt, I must be a smart consumer. I need to learn to pick cheaper alternatives for the many products I consume, without sacrificing too much quality. Maybe when I have paid off all my credit card debts, I can go for the better brands, but for now I need to focus on wiping the slate clean.