Your fundamental strategy to eliminate credit card debt is to somehow, somewhere come up with a bit more money than the minimum payment due each month on your cards. If you don’t, you will likely never get those cards paid down. Making minimum payments, what little is paid down after the interest charges most likely will eventually disappear due to some unexpected expense.
The most common alternative to getting rid of that credit card debt is to save more by reducing your household budget. You should definitely pick out a few of the many tips and strategies for doing this and get started right away.
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Once you have implemented a budgeting strategy to get started, the next thing to consider is extra income. Sure, you will have to give up some personal time, but the effect of bringing in even a little extra income and using it to pay down debt will surprise you. That extra income is not only going to reduce you debt load on next month’s bills, it will save multiples in interest charges over the time you spend eliminating debt.
You can do this several ways, but the simplest is to start a simple side business. You can pick up books in any used bookstore full of low-risk businesses to start. These should be ones that take little or no capital to start. They can be as simple as house cleaning, doing household repairs, pet watching…you name it. Don’t go after some business that requires employees and lots of start-up expenses. Keep it simple, get more cash, and use that cash to reduce you debt. Then, take a little of the extra cash you are earning to treat yourself. You will deserve it!