Expert Tips Can Make Digging Out Of Credit Card Debt Easier


JOBS TODAY THAN IN 2007 ALABAMA, MISSISSIPPI, NEW MEXICO, CONNECTICUT, AND ILLINOIS ALSO MADE THE LIST

MOST AMERICANS ARE CARRYING CREDIT CARD DEBT AND MORE THAN HALF ARE LIVING PAYCHECK TO PAYCHECK AS JOHN DELANO EXPLAINS DIGGING YOURSELF OUT MAY NOT BE AS UNREALISTIC AS IT SEEMS MY VISA IS IN COLLECTIONS THE TIME — BY THE TIME I HAD TO PAY THE SPEC I NEVER REALIZED HOW MUCH IT WAS REPORTER: CREDIT CARD DEBT HAS IT AN ALL-TIME HIGH

IT'S NOT JUST CREDIT CARDS TAKE THE TURNERS, FOR EXAMPLE WHEN THEY GOT MARRIED THEY OWED 120,000 IN SCHOOL LOANS THEY HAD CREDIT CARD BILLS AND CAR PAYMENTS AND THE DEBT TOTALED MORE THAN $140,000 IT WAS OVERWHELMING

Reporter: THE TURNERS MADE MINIMUM PAYMENTS ON THEIR LOANS WHILE TRYING TO COVER THE COST OF THEIR GOING FAMILY THEN THEY REALIZED THEY HAD TO MAKE A CHANGE I SAID WE ARE GOING TO DO THIS WE LIVE IN A SOCIETY OF HAVING TO HAVE EVERYTHING NOW Reporter: THIS FINANCIAL ADVISOR HAS SEEN THIS SITUATION

Reporter: THIS CREDIT COUNSELOR CAUTIONS THAT FOR SOME PEOPLE IT'S MORE THAN THAT IT'S NOT BECAUSE THEY ARE GOING TO STARBUCKS TOO MUCH CREDIT CARD DEBT STARTS BECAUSE PEOPLE DON'T HAVE EMERGENCY SAVINGS Reporter: IF YOU ARE BARELY MAKING ENDS MEET WHERE DO YOU BEGIN? THERE ARE A FEW TIPS START BY WRITING DOWN EVERYTHING YOU SPEND IN A WEEK

AFTER SEVEN DAYS TAKE A STEP BACK AND TAKE THE MONEY YOU SPEND ON EXTRA THINGS AND CUT IT IN HALF AND MAKE THAT YOUR ALLOWANCE WEAR NEXT, YOU SHOULD BUILD A BUDGET WE NEVER HAD A BUDGET BEFORE IT WAS AMAZING THE DIFFERENCE IT MADE FIGURE OUT WHERE YOU ARE SPENDING THE MONEY AND WHAT YOU CAN CUT BACK ON

WEAR THE TURNERS STOPPED EATING OUT THEY ALSO SKIPPED VACATIONS THEY SAID IT WASN'T EASY WE KNEW WE HAD TO STICK TO IT YOUR BALANCE ON A PIECE OF PAPER AND TAPING IT TO YOUR CREDIT CARD

A POWERFUL WAY TO STOP USING THE CARD WHEN YOU SHOULD BE USING IT Reporter: OR FREEZING THE CARD, LITERALLY IF YOU HAVE TO WAIT FOR THE CARD TO THAW THE CHANCES ARE THE URGE TO BUY WILL PASS YOU HAVE TO STOP AND THINK BEFORE YOU SPEND THE MONEY Reporter: IT TOOK THEM FIVE YEARS AND THEY PAID OFF THE ENTIRE $142,000 DEBT

IT DIDN'T SINK IN UNTIL WE RECEIVED THE PAPER IN THE MAIL SAYING CONGRATULATIONS, YOU HAVE PAID OFF YOUR LOAN Reporter: JOHN DELANO, KDKA NEWS

Source: Youtube


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AJ

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