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Getting Yourself Out From Under Crippling Debt

Hey Veterans: Do you feel like have no idea how to get rid of credit card debt? The fantastic thing is that no matter how high the mountain looks, you can scale it and pull yourself from the metaphorical hole you might end up in.

Here are some ways to handle that debt and bring it down to size:

1. Only buy what you can afford.

The perfect way to keep debt from becoming a problem is to avoid the issue completely from this point forward. As opposed to splurging on a fancy piece of digital hardware, only wait and save up for it.

By remaining within budget and paying off your bills each month, you do not need to be concerned about debt piling up on top of you.

You can still escape debt and feel the sweet relief of being debt free by changing your mindset from “using it now” to one of appreciating it even more when you have the cash.

2. Pay off the lowest balance.

Financial adviser Suze Orman often advises individuals in debt to look after the high-interest debts first. Generally speaking, this is a fantastic thing to do, however, in case you’ve got a credit card with a balance of just a few hundred bucks, it would also be beneficial to knock that one off right from the gate.

It is possible to eliminate a complete payment, save on interest charges, and put that money towards another invoice.

3. Prioritize bills by interest rate.

In the long term, paying off the higher interest cards will save you the most money. It is usually the interest that keeps knocking you back. By taking the higher interest cards, you will feel a greater sense of advancement when paying your bills each month.

4. Consolidate.

Among the overwhelming aspects of being in credit card debt is continually being reminded of it with all these bills from various cards. 1 way to fight back is to consolidate your debt. You can do this by taking out a loan from a financial institution or shifting the balance to a card.

If you recently got a new credit card, you can transfer some of the balance to this. This will save you a little bit of interest as most cards will place that equilibrium under the introductory rate.

If you take out a loan, you are able to pay off a number of the cards and cut back the amount of email you get. It is less daunting emotionally to get one massive bill rather than a bunch of small ones.

5. Convert to money and debit only.

One of the best ways to keep yourself in debt is to continue using your credit cards. They are handy and it’s easy to justify their intermittent usage by stating that it is only a pop or a tank of gasoline.

Those small charges add up fast! A dollar here, a few more there, and you’re going to negate the payments that you are making in a really short time frame.

Paying with cash can allow you to develop new spending habits. From the time you get your debts paid down, you will have educated yourself to the point where you do not put yourself in that circumstance.


Debt is a problem that happens to almost everyone sooner or later. Even wealthy men and women find themselves overextended by debt.

Even when you’re working on a shoestring budget, then it is possible to pull yourself out of debt. With discipline, focus, and hard work, you can end up relieved of the mounting pressures.