6 Ways to Pay Your Credit Card Debt at Age 30


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Every time you apply for a loan, there is a risk of getting into debt. If you do not do the right calculations and analysis, then it is easy to fall into a pile of debt.

It’s the same with credit card debt that can be a financial catastrophe.

Learn to Take Responsibility

Trapped in a pile of debt has become commonplace today.

More and more banking products are in the form of loans that make people often rely on debt to make ends meet. Starting from home loans, cars, to the latest smartphone.

However, one thing that is often overlooked by debtors, there is a big risk when you decide to borrow money. One of them is entangled debt that is endless.

One of the most common causes of debt is credit cards. How come? The easy and practical use of credit cards allows many people to own and use them.

Once you forget the responsibility of using a credit card, that’s where the debt begins to emerge.

Then how is the solution? The way is easy, you must be more responsible for the loan you submitted.

By borrowing money using a credit card, you are automatically in debt. You must have a commitment to return it on time.

For more details, this way it will help you have 6 ways to pay off credit card debt for you ages 30:


# 1 Create Your Debt List

At the age of 20, you can still enjoy learning. You still have time to fail and start over. However, time runs fast, and now is the time for you to enter a new decade.

Age 30 requires you to be more serious, where new challenges arise and now all the more real. How not, at the age of 30 you start preparing family and business for the future.

You need to reflect on errors at age 20 to get better results. If you still carry errors and debt load from the age of 20, then it’s time to stop it!

Debt will not get done if you do not know it. You need to describe each debt following its maturity date to determine payment priority.

Set aside time to sit down and write down the entire list of piling up debts, and you’re ready to set priority payments.


# 2 Stop New Credit Card Debt

Today, the economy is increasingly difficult so credit or debt is used as a solution to the necessities of life and consumptive spending.

Unfortunately, if not used wisely, credit or debt can be a financial disaster. Before you fall into the deep “debt hole”, it’s better to STOP all debts and installments that are consumptive!

If there is currently no budget savings, do not ever think to:

  • Take smartphone installment,
  • Take a new car loan,
  • Room renovation,
  • Kitchen renovation, and so on

Just info, to open your eyes, 7 out of 10 students in America pay college debt. After graduating college, the student directly bear the burden of considerable debt.


# 3 Add Income

How far is your financial development up to now? You need to know its progress to motivate you to achieve your financial goals.

In addition, evaluation also lets you find errors and find solutions.

Supposedly, by the age of 30 you are already aware of what you should be doing. One of them is solving a problem that has been made at the age of 20.

Resolving problems can come true if accompanied by meaningful action. One of the most active ways to pay off debt is to save money. You can repay debt faster if you have more money.

But what if all the ways of austerity have been tried and the debt still accumulates?

That’s a sign you need to find another solution, because the frugality has been done to the death. Try a new solution, by getting more income.

The trick can be by looking for a side job, online business, channeling hobbies or expertise, becoming a freelance, and so forth.

With more income, you can pay off debts faster.


# 4 Fixed Fixed 1 Credit Card Debt

If you want to get out of debt quickly, you need to focus and make debt repayment priority.

Determine which debt should be repaid in advance and pay more than is required on the debt.

While other debt can be continued with minimum payment.

But which debt should be repaid first?

There are many methods in setting credit card debt priority, for example, starting from the highest interest rate first.

Let’s look at some of the methods of prioritizing debt repayment from the late to the fastest:

  • # 1 Late Strategy: Only Make Minimum Payments

Although it is a very slow and wrong way, there are still many people who embrace this strategy.

According to a recent study, 29{683bfe3096afc3fb39e053597b3cb91210217113fb6d9dfe60d4a2b6de2c7eac} of credit card users use this minimum pay strategy.

Do not let you be one of them.

Simply put, paying the minimum will result in more interest you have to pay, so the longer you spend to pay off the debt. Thus this strategy should only be used to repay debt that is not a top priority.

The advantages of this strategy is the small amount of repayments to be paid each month.

The disadvantages are many, such as interest that accumulate, debt increasingly swell, and repayment time is longer.

  • # 2 Faster: The Debt Snowball Method by Dave Ramsey

If you choose this method, then you will pay off the minimal debt first and allocate your money to pay in the next payment time.

However, the drawback of this method is you will spend more money to pay your credit interest.

  • # 3 Fastest: Debit Avalanche or Debt Stacking

The trick is to rank from the highest interest to the lowest. A debt stacking strategy suggests paying the minimum of all your bills or installments. Then focus on paying off the debt with the greatest interest.

Excess debt stacking strategy is you can save interest payments. While the drawback is it takes quite a long time to settle the first debt.

please use the appropriate strategy to pay off your debt by focusing on 1 debt first. Good luck!


# 5 Other Credit Cards Pay Above Minimum Payment

At the previous point you already know that paying with a minimum nominal will only slow down the repayment of debt and multiply your debt. The easiest solution is to pay the right amount and on time.

However, you can pay more than the minimum amount to pay off debt faster. But note your financial condition huh! If it is not possible to pay more, try earning extra income.

If it is possible to pay more, do it now!

We’re sure you’ll be able to pay off your debt more quickly this way, prove it now!

Donkey Does not Fall Twice in the Same Place

Like the proverb, “the donkey will not fall twice in the same place”. That is, if an ass does not want to fall in the same place a second time, you should also not to repeat the same mistake!

We believe you can also pay off all debts after reading this article. After that, lest you fall into the same hole again, the “debt hole”.

Avoid new debt by saving money. Do not just rely on credit cards. Remember that debt is easy, the hard one is to pay it off.

The point is to buy if only you have the money.