Ever wondered if there was a do it yourself approach to debt consolidation services? Determination is the key to get you out of debt. If you are focused enough, you will be able to get out of debt and stay on top of your finances.
Credit card bills take a big toll on your financial lives. Most credit card companies charge anywhere between 15% to 24%. When you pay only the monthly minimums, it might take you forever to get out of debt. Besides the compounding of the money you owe might kill you.
The best you can do in this situation is to pick the phone and call your credit card company and demand better interest rates. With the fear of competition, most credit card companies will be able to offer better interest rates on the money you owe. Each month, try and pay more than just the monthly minimum you owe on the account. This way, you will be able to pay off your entire debt relatively soon.
If you are having problems paying down your credit card debt, switch to a credit card company that offers 0% interest rates for the first few months. This will give you the breather so you can focus on how you can manage to pay off what you owe.
Debt consolidation is not always necessary. All that counts is your willingness and determination to stay on top of your finances and save for your golden years.