Should you… Surf your credit card balances from higher rate cards to lower rate cards. YES! BUT, only if you intend to pay-off those surfed balances, and only if you plan to NEVER EVER use those higher rate cards again. DO NOT surf a balance to “card B” and then continue to use “card A”. Why? B/c you will end…
Category: Debt Reduction
No Debt For You…!
I thought that I would list the most �prominent� methods for getting out of debt. Each method assumes that you are paying �consumer� debt: credit cards, automobiles, home equity loans, personal loans, etc. The home mortgage is placed into a separate �debt� category, and is not paid-off until after all other debts have been paid. (If you wish, you can…
Simple Debt Reduction Strategies
Here are my simple debt reduction strategies: Gather ALL of your debt information. (This can include your mortgage, or not, depending on if you want to pay it off early or not.) List TOTAL AMOUNTS OWED for each account. List FINANCE RATE next to each account. Example Account Balance Rate Auto Loan 15000 6.00% Visa 6000 12.00% Master Card 5000…