The first time I was buried in Credit Card Debt was my freshman year of college. It was my first credit card, and I planned to use its modest limit, exclusively for emergencies. However, Life and my first tuition bill had other plans. I, like so many other Americans, soon found myself in debt up to my eyeballs. It’s a simple fact of life that people are going to have unexpected expenses at the most inconvenient times. We as consumers know this and so do the lenders we turn to. It is important to keep in mind that the credit card industry is a business, and although lenders offer helpful advice, it is crucial to look beyond these sources for solutions to eliminate debt. Therefore turning to non-profits is already a big step in the right direction.
The following steps are a combination of the tried and true methods offered to consumers to eliminate debt and a few other techniques I have found helpful for myself.
- Consolidate your debt. Paying off your debt will be far easier to do, if it is all in one place.
- Pay more than the minimum balance each month. If you make it a point to at least pay the minimum balance each month and get used to this cycle, it will make paying a little more than the balance here and there much easier. I passed on fast food every second week to contribute more to my bill. Try any strategy that gets you into the habit of contributing ever so often to that mountainous bill.
- Turn to other sources of cash when expenses pop up. For instance, using websites like Ebay and Amazon.com to sell unwanted goods quickly is a great way to make cash fast. Limit turning to that old faithful credit card as much as possible and use new savvy ways to get the money you need for what is most important.
Soon that mountain of debt will be a thing of the past and using credit will become something more than a daunting task.
Apart from contributing public service and active involvement on campus, Sybria is very passionate about creative writing and writing in general and hopes to bring a sociological point of view to her articles. Her interests outside of writing and public service include reading books concerning fashion and spending time with her family.
A well rounded curriculum involving Business and English academics in addition to sociology, have helped shaped this young writers’ unique voice. She is eager to share her newly acquired skills and looks forward to helping others approach every day problems from a new, and perhaps, sociological outlook.