Category: Debt

For today’s guest post on getting rid of credit card debt, please welcome Camron Hoorfar from DebtConsolidationCare.

While all loans weigh heavily on your financial health, credit card debts are the hardest to deal with. This is because your interest rates increase over time, and you get into more debt. For these reasons, it’s best to consider debt management plans such as credit card debt consolidation to avoid wasting your money on interest rates.

Work on Your APR

High-interest rate credit cards can negatively impact your financial standing. Luckily, you can use some methods to lower your APR and save money. Typically, experts suggest that you simply call the bank and request a lower interest rate. They will review your track record to decide to approve your request.

Personal finance blogs are filled with stories about people who have overcome big personal debt over the years and then write about it to try to help you defeat your own debt. Debt is such a major problem! I get messages from regular folks who need help dealing with debt all the time. Of course the best way to deal with it is to avoid debt in the first place, but that’s easier said than done.

About 15 years ago, after my divorce, I too had racked up thousands of dollars in debt and when I remarried, my wife and I had a combination of over $25,000 in debt on our books (not including my mortgage). That isn’t a real good way to begin a new relationship and frankly, much of it was divorce-related expense, so that there wasn’t really even any shiny, fun stuff to look at and play with despite that debt.

Today’s guest post on paying off debts is sponsored by Credello.

If you have multiple debts you’re trying to pay off, you might feel overwhelmed. Which debt should you pay off first? Does it require high-level math (gulp) or a debt consolidation calculator?

Answers: It depends on your unique financial situation, you don’t need to be a mathematician (fear not, there are no riddles or word problems), and a debt consolidation calculator is very helpful but not absolutely necessary.

If you’re looking to find out which of your debts you should prioritize and how to pay them off, keep reading.

Do you often wonder how other people seem to make ends meet and you struggle with them? I have to reluctantly admit that over the years, I would look around and ask myself questions like, “How the hell can they afford that car?“ or “Where did they get the money for those three weeks in Europe?”

I seemed to work my rear end off and yet somehow I was never quite there—where they were. I realize now what a waste of time beating myself up about that was, but I did it and I’m sure I wasn’t alone. In my older, wiser years, I now know that big debt often is the way it was accomplished.