Blueforce1 LLC: How should I pay off my debts?

So, your in debt. Its got you down and you cannot sleep. You think about it all the time and it has destroyed your credit score. Well you are not alone!

Man lying awake in bed

According to a 2016 NerdWallet analysis, the average U.S. household holds approximately $17,000 in credit card debt.
Here are some simple ways to get back up on the horse.

Create a budget. By creating a budget you will be bale to keep track of your spending as well see where you can cut costs.

Pay your most expensive debts first. Pay off your credits cards with the highest interest rates first. Pay more than the minimum, try to double it. Continue to pay the minimum payments on the others. Once it is paid off rinse and repeat for the rest of the cards.

Pay more than the minimum payment. Paying the minimum gets you no where fast. Aim to double your payment or more to actually make a dent in your debt.

Try a balance transfer. If you can confidently pay off a card in a few months, try transferring the balance to a card with a zero interest balance transfer. Pay off the debt before the balance transfer expires. and you can save hundreds.

Stop using your credit cards. This is important. How can you pay down your debts if you are still making purchases with the same card? Wait until your finances are in control to use your credit cards again and become a cash shopper on a budget.

Put your bonuses from work toward the debt or possibly consider putting some of your tax return towards your debt. It can help to remove a good chunk at one time.

Delete all off your credit cards from online stores that your frequent. It makes it easier to resist clicking the pay button for unnecessary items. Start using your debit card instead or nothing at all.

Have a yard sale. Sale old or unwanted items from your house and use it to put towards your debt. Be fair in the pricing and you can use online resources to help such as Craigslist or Facebook.

Chang your habits. You will likely ending saving lots of money by changing little habits such as eating out for lunch. try bringing lunch from home. Instead of ordering pizza for dinner try making your own, its much cheaper. What can you change without sacrificing your lifestyle too much? A few less beers, less fast food and less cigarettes could go along way.

Most importantly, reward yourself! Once you see there is more money in the bank treat your self to something reasonable. After not eating fast food for like, ever, I was finally able to treat myself out to a nice dinner at a real restaurant that used plates!

Good Luck!