What Solution About Credit Card Bill Bloated

What solution about Credit Card bill bloated

Get to know your debt.

Knowing how much mortgage debt each month just is not enough, but more than that you also have to know everything related to the debt. Make a list to whom you owe, how the balance amount or the remainder of the current debts, how the interest rate of each, and how payments perbulannnya. Find out about kodisi conditions of your loan, such as whether you can get a discount if pay off current debt, or on the contrary subject to penalty for debt repayment before maturity.

Arrange priority debt payments

Of note payable was then draw up a list of debt payments according to their priority. Arrange prirotas repayment of debt which bears interest at the highest to the lowest, from the balance of the debt is not the greatest. Where debt bears interest at the highest ranks first on the priority of debt payments. Why is that ? High-interest debt is like you have an accident and suffered bleeding injuries on several parts of the body. Injuries that cause bleeding most definitely be closed first by a doctor and then close the wounds of another, smaller. Because if the bleeding wound with most not addressed it will be life-threatening because this leads to injury you soonest blood loss. The same logic can we use the priority payment of this debt. But that does not mean we just prioritize the repayment of debt and ignore the others. Examples like this, if you have three credit cards bills are already swollen. Each paymentnya minimum is Rp 300.000, -. So that the total minimum installment payment from all 3 credit cards is Rp 900.000, - per month. To resolve this problem immediately then you are willing to set aside Rp 1 million per month for this credit card payments. Thus there is an excess of Rp 100,000, - from the budget monthly debt repayments. With the priority of repayment then give this a budget surplus for the payment of mortgage debt highest rate. So the debt with the highest interest rate is Rp 400.000, - while two other debts with a lower interest rate respectively Rp 300.000, -. If the debt with the highest interest rate is paid off, then proceed with the priority of repayment on the debt with the next highest interest rate. Give the portion of debt repayments that have paid off the first priority was to increase debt repayments next priority, and so on.

Stop using credit cards.

By the way, even though we already have a strategy priority of repayment, but this plan will not work if you still increase the amount of credit card debt. In other words, if you want to eradicate some credit card bills swell, then stop increasing the number of debts. Stop the use of a credit card and just pay your groceries with cash or your debit card. Leave your credit Katu at home if you do not want to be tempted to use them. Use credit cards only for emergency purposes. If you need to cut your other credit cards and reserving one credit card with a credit limit of the greatest precaution. Whichever way you put in the effort to eradicate credit card debt, no matter how strange. As long as you can help build the habit of using credit cards is good, do it. Perhaps you would be considered extreme, stingy or old-fashioned. Well, you are suffering from a prolonged debt instead of them. You are responsible for paying his debts, others may have been too busy with his own debt problems.

Of course do all three steps in the fight against credit card bill alias debt is not easy, but many people are already doing it. The result, from the day they move closer to financial freedom rather than see it go away. I am sure you also want the same thing. Then let's do it together with the credit card bill to address the road to financial freedom!