Credit card debt is not uncommon. The main reason for this is the undying craze for this glossy piece of plastic. Some are so in love with it that they have piled up multiple credit cards in their drawers! Now, it’s no wonder that you find it tough to manage your monthly payments.

It’s no use crying over spilled milk. If you think you’ve put yourself in grave debt, thanks to your habit of procrastination in paying bills, you need to gear up to save yourself! The first thing to do is taking a hard look at each of your bill on plastic money. Sum them up. Then, examine the interest rates on them. Determine how much approximately you pay every month. Next comes the toughest part – you need to stop using your credit card for some time.

It’d be wise to plan a household budget every month. This way, you’d know the amount of money you can spare for paying your bills. Make a list of all your expenses, right from big power bills to a small grocery store bill. If you find (to your horror) that your expenses exceed your income, there are two things you can do: cut down your expenses and see what things you can do. Do you really need to order large sized pizza twice a week? If you find this impossible, look for an alternate source of income fast.

You need to become disciplined in order to come out of your credit card debt. Besides this, you need to have a strong will to combat your debts. Do not succumb to the temptation of eating out often, subscribing to memberships, shopping just for the sake of it. These are things that you can do without, at least for now. The time required to pay off every single bill depends on the due amount and the amount of money you are able to spare every month in this regard.

Short Tips

*Keep just one credit card for use. If possible, don’t use any for the time being. *Follow your budget like the Bible. *Keep a diary of your expenses. This way, you can know what expenses are absolutely essential and what you can do without. You’ll be surprised to know how many dollars you waste on unnecessary spending. *No matter how tempting it looks, avoid taking cash advance. This will add in more interest and fee once you make the transaction. *Refrain from vacationing to exotic spots or doing lavish purchases until you pay off your complete credit card balance.

Once you’re done with paying your bills, be wiser to yourself in the future and use your cards carefully. If you’re in the struggling phase of your life, it’s better to get a debit card or pay by cash. This way, you’d be spending only what you have in the account. Remember, plastic money is quite tricky. Unless you’re on your guard, it can give you a great financial fall.