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Debt Management Strategy

Debt Management Strategy

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Give up a small luxury


Try it at least once a month and put the money you would have spent toward your credit card debt. This small sacrifice can make a big difference in the long run.


For example:


Suppose you owe $1,500 on a credit card and the interest rate you’re charged is 18 percent.

If you make a minimum payment of $37 per month, you would pay off your debt in 63 months. But if you pay $47, you’ll pay it off in 44 months and save $272 in interest.


Source: Credit Card Debt Calculator, Bankrate.com

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