Guest Article: Discipline In Dealing With Credit Card Debt

Debbie Dragon is a freelance writer for, where she writes about credit cards, rewards programs and general personal finance.

Credit Card Debt can be a monster. Sort of like a giant tidal wave coming right at you. The closer it gets, the bigger it grows and when it hits you, total devastation. That tidal wave began as a small ripple somewhere out there in the vast ocean. Credit Card Debt followed the same path. It started out as one simple charge and then one day you have 4 Credit Cards and a mountain of Debt. Don’t feel all alone. Credit Card Debt around the world has grown into the billions of dollars. Too many consumers wake up one day and realize that Credit Cards are easy to use but very hard to pay off. So, what do you do now? There is no easy fix. It will take discipline and plenty of it.

Discipline is often considered a punishment. Don’t look at it this way. In this case, look at discipline as a form of financial self-control. You have to remedy the situation. It will take determination and dedication rolled into one. You cannot just talk the talk; you will have to walk the walk. You have to come up with a plan. Your very own road map to financial success. You have to look at your personal finance like you were running a business. You want to treat your home budget like a business and strive to make a profit. To accomplish this you will have to know how much money you have coming in and how much you owe out.

  • Make a list of the money you have coming in.
  • Add it up and get a total.
  • Make a list of the money you owe out, like rent, food, car payments, insurance and cable television.
  • Add up all the minimum monthly credit card payments as well.
  • Now add up your monthly credit card payments and your other money owed out.

Let’s say your total outgoing expenses comes to a total of $2000 a month. . Let’s hope that the incoming amount is higher than the out going amount! We will propose that the incoming amount is $2400. You should have a $400 profit each month. Use some of this extra money to pay off your lowest Credit Card Debt. Look at it as though you were putting money back into the business. Continue to do this each and every month until you pay down the card. When you have paid one down, move on to the next. You have to continue this cycle until you have paid your Credit Card Debt off.

Now of course, for this to be successful you cannot keep using the cards. This would of course defeat the purpose. If you want to eliminate the problem, you have to form a plan and then utilize it. No one can do it but you. Although the road will be uncomfortable from time to time, when you reach the final destination you will be rewarded. Once you have gotten your Credit Card Debt under control, learn to pay them off in full each month. You never win by making the minimum monthly payment. Pay the balances off and you just may be able to benefit from one of the many rewards programs that are offered. Just remember, it takes Discipline in dealing with Credit Card Debt.

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