Credit card debt – it seems we are drowning in it. Each year, Americans rack up more and more credit card debt and it becomes harder and harder to pay them off it seems. Many of us have multiple credit cards with different balances meaning that each month we have to go through and make sure each one gets paid – and all too often we pay and pay without seeing as much as a dent being made in the balance thanks to interest charges!
If you are trapped under a mountain of credit card debt, there is hope. We’re going to show you how you can manage that debt and get it paid off in record time by following a very simple principal. In fact, you won’t even need to spend $1 more than you already are paying on the cards – we are just going to allocate that dollar a little differently. Of course, if you want to allocate a few more dollars towards the cards it will make the whole process go a bit smoother.
Let’s say that you have four credit cards, each with different balances and interest rates. First, find out which one has the highest interest rate – that is going to be the one we tackle first. Why? Because it is the interest...
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